SPDR S&P Biotech ETF (NYSEARCA:XBI) Hits New 12-Month High – Should You Buy?

SPDR S&P Biotech ETF (NYSEARCA:XBI) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $118.66 and last traded at $118.7480, with a volume of 1308223 shares trading hands. The stock had previously closed at $116.65.

SPDR S&P Biotech ETF Stock Performance

The business has a fifty day simple moving average of $106.22 and a 200 day simple moving average of $92.81. The company has a market cap of $7.24 billion, a P/E ratio of 11.47 and a beta of 0.93.

Hedge Funds Weigh In On SPDR S&P Biotech ETF

A number of hedge funds have recently added to or reduced their stakes in the business. Capital Square LLC acquired a new stake in shares of SPDR S&P Biotech ETF during the third quarter worth $220,000. CIBC Bancorp USA Inc. acquired a new position in shares of SPDR S&P Biotech ETF in the 3rd quarter valued at about $2,919,000. Centaurus Financial Inc. bought a new stake in shares of SPDR S&P Biotech ETF during the 3rd quarter valued at about $113,000. Mizuho Markets Cayman LP acquired a new stake in SPDR S&P Biotech ETF during the third quarter worth about $64,000. Finally, Advisory Services Network LLC lifted its holdings in SPDR S&P Biotech ETF by 5.8% in the third quarter. Advisory Services Network LLC now owns 10,713 shares of the exchange traded fund’s stock worth $1,073,000 after acquiring an additional 590 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.