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

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

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

SPDR S&P Biotech ETF Trading Down 1.1%

XBI stock traded down $1.88 during midday trading on Tuesday, hitting $161.93. 8,517,074 shares of the company’s stock were exchanged, compared to its average volume of 9,101,974. SPDR S&P Biotech ETF has a 1-year low of $92.64 and a 1-year high of $169.89. The stock has a market capitalization of $10.57 billion, a PE ratio of 11.47 and a beta of 0.84. The business has a 50-day simple moving average of $158.29 and a two-hundred day simple moving average of $140.91.

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.