Absolute Capital Management LLC Grows Holdings in SPDR S&P Biotech ETF $XBI

Absolute Capital Management LLC boosted its position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 59.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,639 shares of the exchange traded fund’s stock after acquiring an additional 7,339 shares during the quarter. Absolute Capital Management LLC’s holdings in SPDR S&P Biotech ETF were worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in XBI. Legacy Wealth Managment LLC ID purchased a new position in SPDR S&P Biotech ETF during the fourth quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new position in SPDR S&P Biotech ETF during the fourth quarter valued at approximately $35,000. Ballast Advisors LLC purchased a new position in SPDR S&P Biotech ETF during the fourth quarter valued at approximately $36,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter worth about $39,000. Finally, MCF Advisors LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter worth about $46,000.

SPDR S&P Biotech ETF Trading Up 3.0%

NYSEARCA:XBI opened at $132.74 on Friday. SPDR S&P Biotech ETF has a 12-month low of $80.90 and a 12-month high of $139.19. The stock has a 50-day moving average price of $132.53 and a 200 day moving average price of $127.08. The stock has a market capitalization of $8.47 billion, a P/E ratio of 11.47 and a beta of 0.85.

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.