SPDR S&P Biotech ETF (NYSEARCA:XBI) Hits New 1-Year High – Here’s What Happened

SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $123.49 and last traded at $123.5860, with a volume of 4307758 shares. The stock had previously closed at $121.83.

SPDR S&P Biotech ETF Price Performance

The stock’s 50-day moving average is $111.38 and its 200 day moving average is $95.64. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 11.47 and a beta of 0.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC lifted its stake in shares of SPDR S&P Biotech ETF by 37.9% during the second quarter. Prime Capital Investment Advisors LLC now owns 9,939 shares of the exchange traded fund’s stock worth $824,000 after purchasing an additional 2,729 shares in the last quarter. Farther Finance Advisors LLC boosted 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 valued at $587,000 after purchasing an additional 6,032 shares during the period. Investment Partners Asset Management Inc. grew its holdings in SPDR S&P Biotech ETF by 4.0% during the 2nd quarter. Investment Partners Asset Management Inc. now owns 3,257 shares of the exchange traded fund’s stock valued at $270,000 after purchasing an additional 125 shares in the last quarter. RFG Advisory LLC purchased a new stake in SPDR S&P Biotech ETF during the 2nd quarter worth $208,000. Finally, AlphaCore Capital LLC lifted its holdings in SPDR S&P Biotech ETF by 6,650.0% in the 2nd quarter. AlphaCore Capital LLC now owns 540 shares of the exchange traded fund’s stock worth $45,000 after buying an additional 532 shares in the last quarter.

About SPDR S&P Biotech ETF

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.