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

SPDR S&P Biotech ETF (NYSEARCA:XBI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $157.31 and last traded at $154.75, with a volume of 2585664 shares changing hands. The stock had previously closed at $155.38.

SPDR S&P Biotech ETF Stock Performance

The company’s 50 day moving average price is $136.09 and its 200 day moving average price is $129.25. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 11.47 and a beta of 0.85.

Hedge Funds Weigh In On SPDR S&P Biotech ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Compound Planning Inc. increased its holdings in shares of SPDR S&P Biotech ETF by 0.7% during the first quarter. Compound Planning Inc. now owns 10,889 shares of the exchange traded fund’s stock worth $1,391,000 after buying an additional 75 shares in the last quarter. Dynamic Wealth Strategies LLC boosted its holdings in shares of SPDR S&P Biotech ETF by 3.8% in the 4th quarter. Dynamic Wealth Strategies LLC now owns 2,201 shares of the exchange traded fund’s stock worth $268,000 after acquiring an additional 80 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in SPDR S&P Biotech ETF by 4.0% during the 4th quarter. Capital Investment Advisory Services LLC now owns 2,123 shares of the exchange traded fund’s stock worth $259,000 after acquiring an additional 81 shares during the last quarter. PeakShares LLC grew its position in SPDR S&P Biotech ETF by 5.2% during the 1st quarter. PeakShares LLC now owns 1,684 shares of the exchange traded fund’s stock worth $215,000 after acquiring an additional 84 shares during the last quarter. Finally, Commerce Bank grew its position in SPDR S&P Biotech ETF by 2.8% during the 4th quarter. Commerce Bank now owns 3,260 shares of the exchange traded fund’s stock worth $397,000 after acquiring an additional 90 shares during 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. The Biotech Index is a modified equal weight index.