SPDR S&P Biotech ETF (NYSEARCA:XBI) Sets New 52-Week High – What’s Next?

SPDR S&P Biotech ETF (NYSEARCA:XBI)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $129.12 and last traded at $126.4320, with a volume of 17151722 shares trading hands. The stock had previously closed at $122.09.

SPDR S&P Biotech ETF Stock Up 3.6%

The business’s 50 day simple moving average is $118.80 and its two-hundred day simple moving average is $102.19. The stock has a market cap of $8.39 billion, a P/E ratio of 11.47 and a beta of 0.93.

Hedge Funds Weigh In On SPDR S&P Biotech ETF

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of SPDR S&P Biotech ETF by 27.3% during the third quarter. JPMorgan Chase & Co. now owns 13,538,738 shares of the exchange traded fund’s stock worth $1,356,582,000 after purchasing an additional 2,900,633 shares during the last quarter. Bessemer Group Inc. boosted its position in SPDR S&P Biotech ETF by 9.3% during the 3rd quarter. Bessemer Group Inc. now owns 1,632,988 shares of the exchange traded fund’s stock worth $163,624,000 after buying an additional 138,322 shares during the period. Ameriprise Financial Inc. grew its holdings in SPDR S&P Biotech ETF by 40.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,226,147 shares of the exchange traded fund’s stock worth $122,906,000 after acquiring an additional 353,351 shares during the last quarter. Meitav Investment House Ltd. increased its position in SPDR S&P Biotech ETF by 70.3% in the 3rd quarter. Meitav Investment House Ltd. now owns 682,056 shares of the exchange traded fund’s stock valued at $68,156,000 after acquiring an additional 281,602 shares during the period. Finally, Greenhouse Funds LLLP raised its stake in shares of SPDR S&P Biotech ETF by 16.6% during the third quarter. Greenhouse Funds LLLP now owns 675,975 shares of the exchange traded fund’s stock valued at $67,733,000 after acquiring an additional 96,308 shares during the last quarter.

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.