Connective Capital Management LLC Makes New $977,000 Investment in SPDR S&P Biotech ETF $XBI

Connective Capital Management LLC purchased a new stake in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,013 shares of the exchange traded fund’s stock, valued at approximately $977,000. SPDR S&P Biotech ETF makes up about 0.6% of Connective Capital Management LLC’s investment portfolio, making the stock its 19th biggest position.

Several other hedge funds have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in SPDR S&P Biotech ETF during the 4th quarter valued at $27,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of SPDR S&P Biotech ETF in the fourth quarter worth approximately $30,000. Legacy Wealth Managment LLC ID purchased a new position in SPDR S&P Biotech ETF during the 4th quarter valued at $32,000. Smartleaf Asset Management LLC purchased a new stake in SPDR S&P Biotech ETF in the fourth quarter worth $32,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of SPDR S&P Biotech ETF in the fourth quarter worth about $34,000.

SPDR S&P Biotech ETF Stock Performance

Shares of NYSEARCA:XBI opened at $140.72 on Friday. The firm has a market cap of $8.98 billion, a PE ratio of 11.47 and a beta of 0.85. The firm’s 50 day simple moving average is $133.36 and its 200-day simple moving average is $127.61. SPDR S&P Biotech ETF has a one year low of $80.90 and a one year high of $143.46.

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.