ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO – Get Free Report) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 96,526 shares, a growth of 315.4% from the June 15th total of 23,236 shares. Based on an average daily trading volume, of 40,529 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.3% of the company’s shares are sold short.
ALPS Medical Breakthroughs ETF Price Performance
ALPS Medical Breakthroughs ETF stock traded down $1.72 during trading hours on Friday, reaching $67.22. The company had a trading volume of 61,817 shares, compared to its average volume of 37,322. ALPS Medical Breakthroughs ETF has a 12-month low of $32.21 and a 12-month high of $69.34. The company has a 50-day moving average price of $56.61 and a 200 day moving average price of $53.51.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Fulcrum Equity Management bought a new position in ALPS Medical Breakthroughs ETF in the second quarter worth about $263,000. Harbor Investment Advisory LLC bought a new stake in ALPS Medical Breakthroughs ETF during the 2nd quarter valued at about $29,000. Bank of America Corp DE raised its holdings in ALPS Medical Breakthroughs ETF by 63.1% in the 1st quarter. Bank of America Corp DE now owns 98,679 shares of the company’s stock worth $5,165,000 after acquiring an additional 38,193 shares during the last quarter. Independent Financial Group LLC purchased a new position in shares of ALPS Medical Breakthroughs ETF in the first quarter worth $283,000. Finally, Sterling Investment Advisors Ltd. raised its position in ALPS Medical Breakthroughs ETF by 50.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 22,025 shares of the company’s stock worth $1,153,000 after buying an additional 7,350 shares during the last quarter.
About ALPS Medical Breakthroughs ETF
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.
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