ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Shares Down 1.9% – What’s Next?

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) shares were down 1.9% during mid-day trading on Monday . The stock traded as low as $32.84 and last traded at $33.08. Approximately 17,314 shares traded hands during mid-day trading, an increase of 59% from the average daily volume of 10,871 shares. The stock had previously closed at $33.72.

ALPS Medical Breakthroughs ETF Stock Performance

The business has a 50-day moving average price of $37.66 and a 200 day moving average price of $36.78.

Hedge Funds Weigh In On ALPS Medical Breakthroughs ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in shares of ALPS Medical Breakthroughs ETF during the third quarter worth $366,000. Griffin Asset Management Inc. lifted its holdings in ALPS Medical Breakthroughs ETF by 31.2% during the 3rd quarter. Griffin Asset Management Inc. now owns 30,135 shares of the company’s stock worth $1,125,000 after purchasing an additional 7,170 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in ALPS Medical Breakthroughs ETF during the 3rd quarter worth about $61,430,000.

ALPS Medical Breakthroughs ETF Company Profile

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.