Parkway Wealth Management Group LLC Buys New Position in SPDR S&P Biotech ETF $XBI

Parkway Wealth Management Group LLC bought a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) in the third quarter, HoldingsChannel reports. The firm bought 167,759 shares of the exchange traded fund’s stock, valued at approximately $26,452,000. SPDR S&P Biotech ETF accounts for 3.0% of Parkway Wealth Management Group LLC’s investment portfolio, making the stock its 7th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Wealth Management Partners LLC bought a new position in SPDR S&P Biotech ETF in the first quarter worth $547,000. Ayalon Insurance Comp Ltd. boosted its holdings in shares of SPDR S&P Biotech ETF by 71.9% during the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 95,600 shares of the exchange traded fund’s stock valued at $15,074,000 after buying an additional 40,000 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of SPDR S&P Biotech ETF during the 2nd quarter valued at $19,270,000. Continuum Advisory LLC boosted its holdings in shares of SPDR S&P Biotech ETF by 389.1% during the 2nd quarter. Continuum Advisory LLC now owns 18,013 shares of the exchange traded fund’s stock valued at $2,851,000 after buying an additional 14,330 shares in the last quarter. Finally, Syon Capital LLC grew its position in shares of SPDR S&P Biotech ETF by 67.9% in the 2nd quarter. Syon Capital LLC now owns 23,562 shares of the exchange traded fund’s stock worth $3,729,000 after buying an additional 9,530 shares during the period.

SPDR S&P Biotech ETF Price Performance

Shares of SPDR S&P Biotech ETF stock opened at $147.86 on Tuesday. The company has a 50-day moving average of $157.89 and a 200 day moving average of $147.21. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 11.47 and a beta of 0.83. SPDR S&P Biotech ETF has a 1 year low of $106.30 and a 1 year high of $169.89.

SPDR S&P Biotech ETF 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.