ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Stock Short Interest Drops 50.1%

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 6,672 shares, a decline of 50.1% from the September 15th total of 13,369 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 44,566 shares, the days-to-cover ratio is currently 0.1 days.

ALPS Medical Breakthroughs ETF Price Performance

Shares of NYSEARCA:SBIO traded down $2.23 on Friday, hitting $49.99. 19,454 shares of the company traded hands, compared to its average volume of 38,433. ALPS Medical Breakthroughs ETF has a 52 week low of $41.73 and a 52 week high of $70.85. The stock has a 50 day simple moving average of $62.87 and a 200-day simple moving average of $59.53.

Institutional Investors Weigh In On ALPS Medical Breakthroughs ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in ALPS Medical Breakthroughs ETF by 63.1% during the 1st quarter. Bank of America Corp DE now owns 98,679 shares of the company’s stock valued at $5,165,000 after buying an additional 38,193 shares during the last quarter. Fig Financial Advisory Services Inc. ADV bought a new stake in shares of ALPS Medical Breakthroughs ETF in the 3rd quarter worth $1,759,000. Moran Wealth Management LLC boosted its stake in ALPS Medical Breakthroughs ETF by 39.2% in the 1st quarter. Moran Wealth Management LLC now owns 29,348 shares of the company’s stock worth $1,536,000 after purchasing an additional 8,264 shares during the period. Sterling Investment Advisors Ltd. grew its stake in shares of ALPS Medical Breakthroughs ETF by 50.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 22,025 shares of the company’s stock valued at $1,153,000 after buying an additional 7,350 shares in the last quarter. Finally, Independent Financial Group LLC bought a new stake in ALPS Medical Breakthroughs ETF during the 1st quarter valued at approximately $283,000.

ALPS Medical Breakthroughs ETF Company Profile

The ALPS Medical Breakthroughs ETF (SBIO) is an exchange-traded fund that is based on the S-Network Medical Breakthroughs index. The fund tracks, a market-cap weighted index comprising US-listed biotech companies with one or more drugs currently in either Phase II or Phase III FDA clinical trials. SBIO was launched on Dec 31, 2014 and is managed by ALPS.