ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Trading 0.3% Higher – Here’s Why

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO)’s share price was up 0.3% during mid-day trading on Monday . The company traded as high as $62.96 and last traded at $62.38. Approximately 35,751 shares changed hands during trading, a decline of 5% from the average session volume of 37,731 shares. The stock had previously closed at $62.20.

ALPS Medical Breakthroughs ETF Stock Down 5.5%

The stock’s fifty day simple moving average is $65.91 and its 200-day simple moving average is $58.84.

Hedge Funds Weigh In On ALPS Medical Breakthroughs ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. raised its stake in shares of ALPS Medical Breakthroughs ETF by 8.1% in the second quarter. Sterling Investment Advisors Ltd. now owns 23,800 shares of the company’s stock worth $1,539,000 after purchasing an additional 1,775 shares during the last quarter. Fulcrum Equity Management purchased a new stake in ALPS Medical Breakthroughs ETF in the second quarter valued at approximately $263,000. Harbor Investment Advisory LLC acquired a new position in ALPS Medical Breakthroughs ETF in the 2nd quarter worth approximately $29,000. Bank of America Corp DE raised its position in ALPS Medical Breakthroughs ETF by 63.1% during the 1st quarter. Bank of America Corp DE now owns 98,679 shares of the company’s stock worth $5,165,000 after buying an additional 38,193 shares during the last quarter. Finally, Independent Financial Group LLC purchased a new position in ALPS Medical Breakthroughs ETF during the 1st quarter worth approximately $283,000.

About ALPS Medical Breakthroughs ETF

The ALPS Medical Breakthroughs ETF (SBIO) is an exchange-traded fund that is based on the S-Network Medical Breakthroughs index. The fund tracks, a market-cap weighted index comprising US-listed biotech companies with one or more drugs currently in either Phase II or Phase III FDA clinical trials. SBIO was launched on Dec 31, 2014 and is managed by ALPS.