SPDR S&P Biotech ETF (NYSEARCA:XBI) Hits New 1-Year High – Time to Buy?

SPDR S&P Biotech ETF (NYSEARCA:XBI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $167.15 and last traded at $166.85, with a volume of 2785309 shares changing hands. The stock had previously closed at $160.11.

SPDR S&P Biotech ETF Price Performance

The firm’s 50-day moving average price is $151.93 and its 200 day moving average price is $136.92. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 11.47 and a beta of 0.83.

Hedge Funds Weigh In On SPDR S&P Biotech ETF

Hedge funds have recently bought and sold shares of the stock. Axiom Investment Management LLC acquired a new stake in shares of SPDR S&P Biotech ETF during the first quarter valued at $26,000. Financial Life Planners acquired a new position in SPDR S&P Biotech ETF in the 1st quarter valued at about $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in SPDR S&P Biotech ETF in the 4th quarter valued at about $27,000. Intesa Sanpaolo Wealth Management purchased a new position in SPDR S&P Biotech ETF in the 4th quarter valued at about $30,000. Finally, SHP Wealth Management acquired a new stake in shares of SPDR S&P Biotech ETF during the 4th quarter worth about $31,000.

SPDR S&P Biotech ETF Company Profile

SPDR S&P Biotech ETF (the Fund) seeks to closely match the returns and characteristics of the S&P Biotechnology Select Industry Index. The S&P Biotechnology Select Industry Index represents the biotechnology sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges. The Biotech Index is a modified equal weight index.