ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Shares Climb 2.6% – Should You Buy?

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO)’s share price shot up 2.6% during mid-day trading on Wednesday. The stock traded as high as $55.93 and last traded at $55.81. 20,231 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 37,778 shares. The stock had previously closed at $54.37.

ALPS Medical Breakthroughs ETF Price Performance

The business’s fifty day moving average price is $58.33 and its 200 day moving average price is $57.09.

Institutional Investors Weigh In On ALPS Medical Breakthroughs ETF

A number of hedge funds and other institutional investors have recently modified their holdings of SBIO. Phoenix Wealth Advisors boosted its holdings in ALPS Medical Breakthroughs ETF by 33.6% in the third quarter. Phoenix Wealth Advisors now owns 11,212 shares of the company’s stock valued at $654,000 after purchasing an additional 2,822 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in ALPS Medical Breakthroughs ETF during the 3rd quarter worth approximately $688,000. NTV Asset Management LLC increased its holdings in ALPS Medical Breakthroughs ETF by 1.2% during the 3rd quarter. NTV Asset Management LLC now owns 17,283 shares of the company’s stock worth $1,008,000 after purchasing an additional 200 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of ALPS Medical Breakthroughs ETF in the 3rd quarter valued at approximately $436,000. Finally, Fig Financial Advisory Services Inc. ADV acquired a new position in shares of ALPS Medical Breakthroughs ETF in the 3rd quarter valued at approximately $1,759,000.

ALPS Medical Breakthroughs ETF Company Profile

The ALPS Medical Breakthroughs ETF (SBIO) is an exchange-traded fund that is based on the S-Network Medical Breakthroughs index. The fund tracks, a market-cap weighted index comprising US-listed biotech companies with one or more drugs currently in either Phase II or Phase III FDA clinical trials. SBIO was launched on Dec 31, 2014 and is managed by ALPS.