SPDR S&P Biotech ETF (NYSEARCA:XBI) Hits New 52-Week High – Should You Buy?

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high during trading on Monday . The stock traded as high as $126.41 and last traded at $126.0990, with a volume of 4206850 shares changing hands. The stock had previously closed at $123.43.

SPDR S&P Biotech ETF Trading Up 2.0%

The business has a 50-day simple moving average of $115.20 and a 200 day simple moving average of $98.82. The stock has a market cap of $7.64 billion, a P/E ratio of 11.47 and a beta of 0.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cresset Asset Management LLC lifted its position in SPDR S&P Biotech ETF by 141.7% in the 1st quarter. Cresset Asset Management LLC now owns 6,476 shares of the exchange traded fund’s stock worth $525,000 after buying an additional 3,797 shares during the last quarter. Wellington Management Group LLP increased its stake in SPDR S&P Biotech ETF by 56.2% during the 1st quarter. Wellington Management Group LLP now owns 101,946 shares of the exchange traded fund’s stock valued at $8,268,000 after purchasing an additional 36,696 shares in the last quarter. Flow Traders U.S. LLC bought a new position in SPDR S&P Biotech ETF in the 1st quarter valued at approximately $1,017,000. CW Advisors LLC boosted its holdings in shares of SPDR S&P Biotech ETF by 7.8% during the 1st quarter. CW Advisors LLC now owns 22,021 shares of the exchange traded fund’s stock valued at $1,791,000 after acquiring an additional 1,585 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in SPDR S&P Biotech ETF during the first quarter valued at $109,000.

SPDR S&P Biotech ETF Company 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.