Innovative Advisory Group LLC Takes Position in SPDR S&P Biotech ETF $XBI

Innovative Advisory Group LLC bought a new position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) in the second quarter, HoldingsChannel reports. The institutional investor bought 6,998 shares of the exchange traded fund’s stock, valued at approximately $1,107,000. SPDR S&P Biotech ETF makes up about 0.8% of Innovative Advisory Group LLC’s holdings, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of SPDR S&P Biotech ETF in the second quarter valued at approximately $10,927,000. Sequoia Financial Advisors LLC grew its position in SPDR S&P Biotech ETF by 27.7% during the second quarter. Sequoia Financial Advisors LLC now owns 3,523 shares of the exchange traded fund’s stock worth $557,000 after buying an additional 765 shares in the last quarter. Tidal Investments LLC grew its position in SPDR S&P Biotech ETF by 1,771.5% during the second quarter. Tidal Investments LLC now owns 109,331 shares of the exchange traded fund’s stock worth $17,302,000 after buying an additional 103,489 shares in the last quarter. IPG Investment Advisors LLC increased its stake in SPDR S&P Biotech ETF by 93.3% during the 2nd quarter. IPG Investment Advisors LLC now owns 5,908 shares of the exchange traded fund’s stock worth $935,000 after acquiring an additional 2,852 shares during the period. Finally, Maven Securities LTD bought a new position in SPDR S&P Biotech ETF during the 2nd quarter worth $3,028,000.

SPDR S&P Biotech ETF Price Performance

Shares of NYSEARCA XBI opened at $158.23 on Tuesday. The stock has a market capitalization of $10.57 billion, a PE ratio of 11.47 and a beta of 0.84. The business has a fifty day moving average price of $157.72 and a two-hundred day moving average price of $143.07. SPDR S&P Biotech ETF has a fifty-two week low of $95.34 and a fifty-two week high of $169.89.

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. The Biotech Index is a modified equal weight index.