SPDR S&P Biotech ETF (NYSEARCA:XBI) Reaches New 12-Month High – What’s Next?

SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high on Tuesday . The company traded as high as $146.77 and last traded at $145.86, with a volume of 16686026 shares trading hands. The stock had previously closed at $140.72.

SPDR S&P Biotech ETF Stock Up 3.7%

The stock has a market cap of $9.31 billion, a PE ratio of 11.47 and a beta of 0.85. The business has a 50 day moving average price of $133.84 and a 200 day moving average price of $127.95.

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Several hedge funds have recently bought and sold shares of XBI. Bank of America Corp DE increased its holdings in shares of SPDR S&P Biotech ETF by 13.3% during the 1st quarter. Bank of America Corp DE now owns 14,518,027 shares of the exchange traded fund’s stock valued at $1,854,388,000 after purchasing an additional 1,700,851 shares in the last quarter. Morgan Stanley boosted its holdings in SPDR S&P Biotech ETF by 8.3% during the fourth quarter. Morgan Stanley now owns 11,491,683 shares of the exchange traded fund’s stock worth $1,401,181,000 after buying an additional 882,718 shares in the last quarter. Wells Fargo & Company MN grew its position in SPDR S&P Biotech ETF by 75.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,566,265 shares of the exchange traded fund’s stock valued at $434,835,000 after buying an additional 1,536,122 shares during the period. Avoro Capital Advisors LLC acquired a new stake in SPDR S&P Biotech ETF during the fourth quarter valued at $256,053,000. Finally, Bessemer Group Inc. increased its holdings in SPDR S&P Biotech ETF by 13.5% in the fourth quarter. Bessemer Group Inc. now owns 1,853,232 shares of the exchange traded fund’s stock valued at $225,965,000 after buying an additional 220,244 shares in 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.