SPDR S&P Biotech ETF (NYSEARCA:XBI) Hits New 12-Month High – Should You Buy?

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) hit a new 52-week high during trading on Thursday . The company traded as high as $103.89 and last traded at $103.27, with a volume of 1307776 shares trading hands. The stock had previously closed at $102.44.

SPDR S&P Biotech ETF Price Performance

The company has a fifty day moving average price of $98.86 and a 200 day moving average price of $95.33. The company has a market capitalization of $7.86 billion, a P/E ratio of 11.47 and a beta of 1.11.

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Hedge funds have recently added to or reduced their stakes in the stock. Hartline Investment Corp increased its holdings in shares of SPDR S&P Biotech ETF by 2.0% in the 3rd quarter. Hartline Investment Corp now owns 5,502 shares of the exchange traded fund’s stock worth $544,000 after acquiring an additional 106 shares during the period. HBK Sorce Advisory LLC grew its position in SPDR S&P Biotech ETF by 2.6% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,538 shares of the exchange traded fund’s stock worth $431,000 after purchasing an additional 113 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of SPDR S&P Biotech ETF by 1.0% in the second quarter. Intellectus Partners LLC now owns 11,334 shares of the exchange traded fund’s stock valued at $1,051,000 after purchasing an additional 113 shares during the period. Pacific Center for Financial Services raised its holdings in shares of SPDR S&P Biotech ETF by 2.8% during the first quarter. Pacific Center for Financial Services now owns 4,359 shares of the exchange traded fund’s stock valued at $414,000 after buying an additional 118 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its position in shares of SPDR S&P Biotech ETF by 5.7% during the third quarter. Signature Estate & Investment Advisors LLC now owns 2,336 shares of the exchange traded fund’s stock worth $231,000 after buying an additional 125 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.