SPDR S&P Biotech ETF (NYSEARCA:XBI) Reaches New 1-Year High – Here’s Why

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high during trading on Thursday . The stock traded as high as $123.49 and last traded at $123.5860, with a volume of 4307758 shares traded. The stock had previously closed at $121.83.

SPDR S&P Biotech ETF Price Performance

The stock’s 50-day moving average is $110.33 and its two-hundred day moving average is $95.14. The stock has a market cap of $7.49 billion, a P/E ratio of 11.47 and a beta of 0.93.

Institutional Trading of SPDR S&P Biotech ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in SPDR S&P Biotech ETF by 625.1% in the 1st quarter. JPMorgan Chase & Co. now owns 10,369,706 shares of the exchange traded fund’s stock valued at $840,983,000 after buying an additional 12,344,558 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of SPDR S&P Biotech ETF by 33.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,524,858 shares of the exchange traded fund’s stock valued at $1,096,866,000 after acquiring an additional 3,353,029 shares during the period. Simplex Trading LLC lifted its holdings in shares of SPDR S&P Biotech ETF by 116.1% in the 1st quarter. Simplex Trading LLC now owns 241,039 shares of the exchange traded fund’s stock worth $19,548,000 after acquiring an additional 1,741,445 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in SPDR S&P Biotech ETF in the 3rd quarter valued at approximately $55,613,000. Finally, Ameriprise Financial Inc. raised its position in SPDR S&P Biotech ETF by 123.0% in the second quarter. Ameriprise Financial Inc. now owns 872,796 shares of the exchange traded fund’s stock valued at $72,542,000 after purchasing an additional 481,408 shares during the period.

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.