SPDR S&P Biotech ETF (NYSEARCA:XBI) Sets New 12-Month High – Time to Buy?

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high on Monday . The company traded as high as $157.31 and last traded at $154.75, with a volume of 2585664 shares. The stock had previously closed at $155.38.

SPDR S&P Biotech ETF Stock Up 0.6%

The firm has a fifty day moving average of $135.24 and a 200-day moving average of $128.73. The firm has a market cap of $9.98 billion, a P/E ratio of 11.47 and a beta of 0.85.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wealth Management Partners LLC bought a new stake in shares of SPDR S&P Biotech ETF during the 1st quarter valued at $547,000. Banque Pictet & Cie SA boosted its position in shares of SPDR S&P Biotech ETF by 24.1% in the 4th quarter. Banque Pictet & Cie SA now owns 64,877 shares of the exchange traded fund’s stock worth $7,910,000 after purchasing an additional 12,595 shares during the last quarter. Apella Capital LLC bought a new position in shares of SPDR S&P Biotech ETF in the 4th quarter worth $490,000. Keystone Investors PTE Ltd. acquired a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter worth $12,022,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of SPDR S&P Biotech ETF by 106.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,570 shares of the exchange traded fund’s stock worth $3,240,000 after purchasing an additional 13,729 shares during the period.

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.