Crestone Asset Management LLC Lowers Stock Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Crestone Asset Management LLC cut its position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 65.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,224 shares of the exchange traded fund’s stock after selling 6,040 shares during the period. Crestone Asset Management LLC’s holdings in SPDR S&P Biotech ETF were worth $288,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. EPG Wealth Management LLC boosted its stake in shares of SPDR S&P Biotech ETF by 152.7% in the third quarter. EPG Wealth Management LLC now owns 460 shares of the exchange traded fund’s stock worth $34,000 after buying an additional 278 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of SPDR S&P Biotech ETF in the fourth quarter valued at approximately $44,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of SPDR S&P Biotech ETF during the 4th quarter valued at approximately $45,000. Life Planning Partners Inc purchased a new position in shares of SPDR S&P Biotech ETF during the 4th quarter worth approximately $64,000. Finally, Albion Financial Group UT acquired a new position in shares of SPDR S&P Biotech ETF in the fourth quarter valued at approximately $69,000.

SPDR S&P Biotech ETF Price Performance

Shares of NYSEARCA XBI traded down $1.32 during midday trading on Wednesday, hitting $89.11. 11,993,846 shares of the company’s stock were exchanged, compared to its average volume of 11,623,935. SPDR S&P Biotech ETF has a twelve month low of $63.80 and a twelve month high of $103.52. The company has a market cap of $6.79 billion, a PE ratio of 11.47 and a beta of 1.11. The firm’s fifty day simple moving average is $91.68 and its 200-day simple moving average is $85.77.

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.