Marvin & Palmer Associates Inc. Takes Position in SPDR S&P Biotech ETF $XBI

Marvin & Palmer Associates Inc. purchased a new position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 26,940 shares of the exchange traded fund’s stock, valued at approximately $3,285,000. SPDR S&P Biotech ETF accounts for approximately 2.3% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 22nd biggest holding.

Other hedge funds have also bought and sold shares of the company. Legacy Wealth Managment LLC ID bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth $32,000. Greykasell Wealth Strategies Inc. bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth $35,000. Ballast Advisors LLC bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth $36,000. Creative Financial Designs Inc. ADV bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth $39,000. Finally, MCF Advisors LLC bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth $46,000.

SPDR S&P Biotech ETF Trading Up 2.3%

Shares of SPDR S&P Biotech ETF stock opened at $131.38 on Wednesday. The business’s fifty day simple moving average is $132.23 and its 200 day simple moving average is $126.86. The firm has a market capitalization of $8.38 billion, a P/E ratio of 11.47 and a beta of 0.85. SPDR S&P Biotech ETF has a 12 month low of $80.90 and a 12 month high of $139.19.

SPDR S&P Biotech ETF 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.