SPDR S&P Biotech ETF (NYSEARCA:XBI) Sets New 52-Week High – What’s Next?

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $118.66 and last traded at $118.7480, with a volume of 1308223 shares trading hands. The stock had previously closed at $116.65.

SPDR S&P Biotech ETF Stock Performance

The firm has a fifty day moving average of $106.22 and a 200 day moving average of $92.81. The firm has a market capitalization of $7.24 billion, a PE ratio of 11.47 and a beta of 0.93.

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC raised its position in shares of SPDR S&P Biotech ETF by 37.9% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 9,939 shares of the exchange traded fund’s stock valued at $824,000 after purchasing an additional 2,729 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of SPDR S&P Biotech ETF by 574.5% in the second quarter. Farther Finance Advisors LLC now owns 7,082 shares of the exchange traded fund’s stock worth $587,000 after buying an additional 6,032 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of SPDR S&P Biotech ETF in the first quarter worth $95,000. Investment Partners Asset Management Inc. raised its holdings in SPDR S&P Biotech ETF by 4.0% in the second quarter. Investment Partners Asset Management Inc. now owns 3,257 shares of the exchange traded fund’s stock valued at $270,000 after acquiring an additional 125 shares in the last quarter. Finally, RFG Advisory LLC bought a new position in SPDR S&P Biotech ETF during the 2nd quarter valued at $208,000.

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.