SPDR S&P Biotech ETF (NYSEARCA:XBI) Sets New 52-Week High – Time to Buy?

SPDR S&P Biotech ETF (NYSEARCA:XBI)’s stock price reached a new 52-week high during trading 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 Trading Up 3.7%

The company has a market cap of $9.31 billion, a price-to-earnings ratio of 11.47 and a beta of 0.85. The business has a fifty day moving average of $133.84 and a two-hundred day moving average of $127.95.

Institutional Trading of SPDR S&P Biotech ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Banque Pictet & Cie SA raised its holdings in shares of SPDR S&P Biotech ETF by 24.1% during the 4th quarter. Banque Pictet & Cie SA now owns 64,877 shares of the exchange traded fund’s stock worth $7,910,000 after acquiring an additional 12,595 shares during the period. Apella Capital LLC acquired a new position in shares of SPDR S&P Biotech ETF during the 4th quarter valued at about $490,000. Keystone Investors PTE Ltd. purchased a new stake in shares of SPDR S&P Biotech ETF in the fourth quarter valued at about $12,022,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of SPDR S&P Biotech ETF by 106.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,570 shares of the exchange traded fund’s stock valued at $3,240,000 after purchasing an additional 13,729 shares during the period. Finally, Greystone Financial Group LLC acquired a new stake in SPDR S&P Biotech ETF during the fourth quarter worth about $658,000.

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.