Waterfront Wealth Inc. Takes Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Waterfront Wealth Inc. purchased a new position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,004 shares of the exchange traded fund’s stock, valued at approximately $268,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Resources Management Corp CT ADV boosted its position in SPDR S&P Biotech ETF by 1,715.8% in the 2nd quarter. Resources Management Corp CT ADV now owns 345 shares of the exchange traded fund’s stock valued at $29,000 after buying an additional 326 shares during the last quarter. Tyler Stone Wealth Management bought a new position in SPDR S&P Biotech ETF in the second quarter valued at about $33,000. Compass Wealth Management LLC acquired a new stake in SPDR S&P Biotech ETF in the fourth quarter worth about $34,000. Fortis Capital Advisors LLC bought a new stake in SPDR S&P Biotech ETF during the 4th quarter worth about $38,000. Finally, EPG Wealth Management LLC raised its holdings in SPDR S&P Biotech ETF by 152.7% during the 3rd quarter. EPG Wealth Management LLC now owns 460 shares of the exchange traded fund’s stock worth $34,000 after purchasing an additional 278 shares during the last quarter.

SPDR S&P Biotech ETF Price Performance

Shares of NYSEARCA XBI traded down $0.20 during mid-day trading on Thursday, hitting $84.45. The company’s stock had a trading volume of 2,606,959 shares, compared to its average volume of 11,583,348. SPDR S&P Biotech ETF has a one year low of $63.80 and a one year high of $103.52. The company’s fifty day simple moving average is $93.79 and its 200-day simple moving average is $84.13. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 11.47 and a beta of 1.08.

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.