SPDR S&P Biotech ETF (NYSEARCA:XBI) Reaches New 1-Year High – Still a Buy?

SPDR S&P Biotech ETF (NYSEARCA:XBI) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $157.31 and last traded at $154.75, with a volume of 2585664 shares trading hands. The stock had previously closed at $155.38.

SPDR S&P Biotech ETF Stock Up 0.6%

The company has a market cap of $9.98 billion, a P/E ratio of 11.47 and a beta of 0.85. The firm has a fifty day moving average price of $135.24 and a 200 day moving average price of $128.73.

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of SPDR S&P Biotech ETF by 13.3% during the first quarter. Bank of America Corp DE now owns 14,518,027 shares of the exchange traded fund’s stock valued at $1,854,388,000 after purchasing an additional 1,700,851 shares during the last quarter. Morgan Stanley lifted its holdings in SPDR S&P Biotech ETF by 8.3% during the 4th quarter. Morgan Stanley now owns 11,491,683 shares of the exchange traded fund’s stock worth $1,401,181,000 after buying an additional 882,718 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in SPDR S&P Biotech ETF by 75.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,566,265 shares of the exchange traded fund’s stock worth $434,835,000 after buying an additional 1,536,122 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in SPDR S&P Biotech ETF in the 4th quarter valued at $256,053,000. Finally, Bessemer Group Inc. boosted its position in SPDR S&P Biotech ETF by 13.5% in the 4th quarter. Bessemer Group Inc. now owns 1,853,232 shares of the exchange traded fund’s stock valued at $225,965,000 after buying an additional 220,244 shares during the last quarter.

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.