Cornerstone Enterprises LLC Purchases 9,262 Shares of SPDR S&P Biotech ETF $XBI

Cornerstone Enterprises LLC acquired a new position in SPDR S&P Biotech ETF (NYSEARCA:XBI) during the third quarter, Holdings Channel.com reports. The firm acquired 9,262 shares of the exchange traded fund’s stock, valued at approximately $1,460,000. SPDR S&P Biotech ETF makes up approximately 0.9% of Cornerstone Enterprises LLC’s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in SPDR S&P Biotech ETF by 13.3% in the 1st 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 buying an additional 1,700,851 shares during the last quarter. Main Street Research LLC grew its stake in shares of SPDR S&P Biotech ETF by 57.4% during the first quarter. Main Street Research LLC now owns 567,479 shares of the exchange traded fund’s stock valued at $72,484,000 after acquiring an additional 206,953 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of SPDR S&P Biotech ETF by 145.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 314,224 shares of the exchange traded fund’s stock worth $49,726,000 after acquiring an additional 186,314 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of SPDR S&P Biotech ETF during the second quarter worth about $19,270,000. Finally, SG Americas Securities LLC increased its position in shares of SPDR S&P Biotech ETF by 41.4% during the first quarter. SG Americas Securities LLC now owns 391,243 shares of the exchange traded fund’s stock worth $49,973,000 after acquiring an additional 114,638 shares during the last quarter.

SPDR S&P Biotech ETF Stock Performance

NYSEARCA:XBI opened at $149.78 on Friday. SPDR S&P Biotech ETF has a one year low of $106.30 and a one year high of $169.89. The business’s 50-day simple moving average is $158.35 and its 200 day simple moving average is $146.89. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 11.47 and a beta of 0.83.

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.