SPDR S&P Biotech ETF (NYSEARCA:XBI) Sets New 52-Week High – Should You Buy?

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high on Tuesday . The company traded as high as $169.89 and last traded at $169.40, with a volume of 4220462 shares changing hands. The stock had previously closed at $164.17.

SPDR S&P Biotech ETF Stock Down 0.4%

The company has a 50-day moving average of $155.80 and a 200-day moving average of $138.66. The company has a market cap of $11.00 billion, a PE ratio of 11.47 and a beta of 0.83.

Hedge Funds Weigh In On SPDR S&P Biotech ETF

A number of hedge funds have recently bought and sold shares of XBI. Angeles Wealth Management LLC purchased a new position in SPDR S&P Biotech ETF during the second quarter worth about $28,000. Axiom Investment Management LLC purchased a new stake in SPDR S&P Biotech ETF in the 1st quarter valued at about $26,000. Financial Life Planners purchased a new stake in SPDR S&P Biotech ETF in the 1st quarter valued at about $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of SPDR S&P Biotech ETF during the 4th quarter worth approximately $27,000. Finally, Morling Financial Advisors LLC bought a new position in shares of SPDR S&P Biotech ETF during the 2nd quarter worth approximately $36,000.

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.