Connective Capital Management LLC Lowers Stock Position in SPDR S&P Biotech ETF $XBI

Connective Capital Management LLC lessened its stake in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 71.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,736 shares of the exchange traded fund’s stock after selling 16,512 shares during the quarter. SPDR S&P Biotech ETF accounts for about 0.8% of Connective Capital Management LLC’s holdings, making the stock its 20th biggest holding. Connective Capital Management LLC’s holdings in SPDR S&P Biotech ETF were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Angeles Wealth Management LLC acquired a new position in shares of SPDR S&P Biotech ETF in the 2nd quarter worth approximately $28,000. Axiom Investment Management LLC acquired a new stake in SPDR S&P Biotech ETF in the 1st quarter valued at approximately $26,000. Financial Life Planners acquired a new stake in SPDR S&P Biotech ETF in the 1st quarter valued at approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in SPDR S&P Biotech ETF in the fourth quarter valued at approximately $27,000. Finally, Morling Financial Advisors LLC acquired a new position in SPDR S&P Biotech ETF during the second quarter worth $36,000.

SPDR S&P Biotech ETF Stock Down 1.1%

NYSEARCA:XBI traded down $1.88 during trading hours on Tuesday, reaching $161.93. 8,517,074 shares of the stock were exchanged, compared to its average volume of 9,101,974. SPDR S&P Biotech ETF has a twelve month low of $92.64 and a twelve month high of $169.89. The business has a 50-day moving average of $158.29 and a two-hundred day moving average of $140.91. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 11.47 and a beta of 0.84.

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.