Meridian Investment Counsel Inc. Increases Holdings in SPDR S&P Biotech ETF $XBI

Meridian Investment Counsel Inc. lifted its stake in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,578 shares of the exchange traded fund’s stock after purchasing an additional 5,312 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in SPDR S&P Biotech ETF were worth $2,501,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Financial Life Planners purchased a new stake in shares of SPDR S&P Biotech ETF in the first quarter worth about $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in SPDR S&P Biotech ETF during the 4th quarter worth approximately $27,000. Intesa Sanpaolo Wealth Management bought a new stake in SPDR S&P Biotech ETF during the 4th quarter worth approximately $30,000. SHP Wealth Management purchased a new stake in SPDR S&P Biotech ETF in the 4th quarter worth approximately $31,000. Finally, Legacy Wealth Managment LLC ID bought a new position in SPDR S&P Biotech ETF in the 4th quarter valued at $32,000.

SPDR S&P Biotech ETF Price Performance

Shares of NYSEARCA:XBI opened at $160.46 on Monday. The firm has a fifty day moving average price of $137.41 and a two-hundred day moving average price of $130.02. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 11.47 and a beta of 0.82. SPDR S&P Biotech ETF has a one year low of $83.02 and a one year high of $160.82.

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.