Independent Financial Group LLC Invests $888,000 in SPDR S&P Biotech ETF $XBI

Independent Financial Group LLC purchased a new position in SPDR S&P Biotech ETF (NYSEARCA:XBI) in the first quarter, Holdings Channel reports. The fund purchased 6,955 shares of the exchange traded fund’s stock, valued at approximately $888,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of SPDR S&P Biotech ETF by 77.1% in the 1st quarter. AQR Capital Management LLC now owns 4,978 shares of the exchange traded fund’s stock worth $404,000 after acquiring an additional 2,167 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of SPDR S&P Biotech ETF by 102.3% in the 2nd quarter. Marshall Wace LLP now owns 4,023 shares of the exchange traded fund’s stock valued at $334,000 after acquiring an additional 179,029 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of SPDR S&P Biotech ETF during the 2nd quarter valued at approximately $260,000. Ameriprise Financial Inc. raised its position in shares of SPDR S&P Biotech ETF by 123.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 872,796 shares of the exchange traded fund’s stock valued at $72,542,000 after acquiring an additional 481,408 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in SPDR S&P Biotech ETF by 3.7% during the second quarter. EP Wealth Advisors LLC now owns 5,379 shares of the exchange traded fund’s stock worth $446,000 after purchasing an additional 193 shares during the last quarter.

SPDR S&P Biotech ETF Price Performance

SPDR S&P Biotech ETF stock opened at $154.50 on Wednesday. The company has a market cap of $10.37 billion, a PE ratio of 11.47 and a beta of 0.82. The company has a fifty day moving average price of $143.17 and a two-hundred day moving average price of $132.89. SPDR S&P Biotech ETF has a 12 month low of $84.39 and a 12 month high of $165.71.

SPDR S&P Biotech ETF Company 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.