SPDR S&P Biotech ETF (NYSEARCA:XBI) Sees Large Volume Increase – Here’s What Happened

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) saw an uptick in trading volume on Friday . 8,628,745 shares traded hands during trading, a decline of 8% from the previous session’s volume of 9,365,712 shares.The stock last traded at $93.35 and had previously closed at $96.96.

SPDR S&P Biotech ETF Stock Down 5.3 %

The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 11.47 and a beta of 1.11. The stock has a 50 day moving average of $98.95 and a 200 day moving average of $96.11.

Hedge Funds Weigh In On SPDR S&P Biotech ETF

A number of hedge funds have recently added to or reduced their stakes in the business. Tidemark LLC grew its holdings in shares of SPDR S&P Biotech ETF by 101.5% during the third quarter. Tidemark LLC now owns 395 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 199 shares during the last quarter. ORG Partners LLC bought a new position in SPDR S&P Biotech ETF during the 2nd quarter valued at $40,000. Quintet Private Bank Europe S.A. bought a new stake in SPDR S&P Biotech ETF in the third quarter worth about $40,000. ORG Wealth Partners LLC bought a new position in shares of SPDR S&P Biotech ETF in the third quarter valued at $44,000. Finally, Howe & Rusling Inc. purchased a new stake in shares of SPDR S&P Biotech ETF during the third quarter valued at $49,000.

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.