SPDR S&P Biotech ETF (NYSEARCA:XBI) Sets New 52-Week High – Should You Buy?

Shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) reached a new 52-week high on Monday . The company traded as high as $161.20 and last traded at $159.98, with a volume of 882429 shares changing hands. The stock had previously closed at $160.46.

SPDR S&P Biotech ETF Price Performance

The company has a fifty day moving average of $137.41 and a 200-day moving average of $130.02. The firm has a market cap of $10.76 billion, a P/E ratio of 11.47 and a beta of 0.82.

Institutional Trading of SPDR S&P Biotech ETF

Several institutional investors and hedge funds have recently made changes to their positions in XBI. Axiom Investment Management LLC purchased a new stake in SPDR S&P Biotech ETF in the 1st quarter valued at about $26,000. Financial Life Planners bought a new position in shares of SPDR S&P Biotech ETF in the first quarter valued at approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter valued at approximately $27,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter valued at approximately $30,000. Finally, SHP Wealth Management bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth $31,000.

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.