SPDR S&P Biotech ETF $XBI Stock Sold by Royal Fund Management LLC

Royal Fund Management LLC trimmed its position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 18.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 125,943 shares of the exchange traded fund’s stock after selling 28,522 shares during the quarter. SPDR S&P Biotech ETF accounts for about 1.5% of Royal Fund Management LLC’s holdings, making the stock its 7th largest holding. Royal Fund Management LLC’s holdings in SPDR S&P Biotech ETF were worth $19,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of XBI. Angeles Wealth Management LLC purchased a new stake in SPDR S&P Biotech ETF in the second quarter worth approximately $28,000. Root Financial Partners LLC bought a new position in SPDR S&P Biotech ETF during the third quarter valued at approximately $31,000. Axiom Investment Management LLC purchased a new position in shares of SPDR S&P Biotech ETF during the first quarter worth approximately $26,000. Financial Life Planners purchased a new position in shares of SPDR S&P Biotech ETF during the first quarter worth approximately $27,000. Finally, Morling Financial Advisors LLC purchased a new position in shares of SPDR S&P Biotech ETF during the second quarter worth approximately $36,000.

SPDR S&P Biotech ETF Stock Performance

Shares of XBI opened at $151.64 on Friday. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 11.47 and a beta of 0.83. SPDR S&P Biotech ETF has a fifty-two week low of $106.30 and a fifty-two week high of $169.89. The firm has a 50 day moving average price of $157.56 and a 200-day moving average price of $147.71.

SPDR S&P Biotech ETF 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.