Apollon Wealth Management LLC Sells 3,703 Shares of SPDR S&P Biotech ETF $XBI

Apollon Wealth Management LLC reduced its position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 68.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,674 shares of the exchange traded fund’s stock after selling 3,703 shares during the quarter. Apollon Wealth Management LLC’s holdings in SPDR S&P Biotech ETF were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of XBI. Morgan Stanley lifted its stake in SPDR S&P Biotech ETF by 8.3% in the 4th quarter. Morgan Stanley now owns 11,491,683 shares of the exchange traded fund’s stock valued at $1,401,181,000 after acquiring an additional 882,718 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of SPDR S&P Biotech ETF by 75.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,566,265 shares of the exchange traded fund’s stock worth $434,835,000 after purchasing an additional 1,536,122 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in SPDR S&P Biotech ETF during the fourth quarter worth $256,053,000. Bessemer Group Inc. boosted its holdings in SPDR S&P Biotech ETF by 13.5% during the fourth quarter. Bessemer Group Inc. now owns 1,853,232 shares of the exchange traded fund’s stock worth $225,965,000 after purchasing an additional 220,244 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in SPDR S&P Biotech ETF by 40.5% in the third quarter. Ameriprise Financial Inc. now owns 1,226,147 shares of the exchange traded fund’s stock valued at $122,906,000 after purchasing an additional 353,351 shares in the last quarter.

SPDR S&P Biotech ETF Trading Up 1.9%

Shares of XBI stock opened at $163.87 on Wednesday. The firm’s fifty day moving average price is $138.55 and its two-hundred day moving average price is $130.59. SPDR S&P Biotech ETF has a 1 year low of $83.45 and a 1 year high of $164.35. The firm has a market capitalization of $11.08 billion, a P/E ratio of 11.47 and a beta of 0.82.

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.