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

Independent Financial Group LLC bought a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,955 shares of the exchange traded fund’s stock, valued at approximately $888,000.

Other large investors have also added to or reduced their stakes in the company. Wealth Management Partners LLC purchased a new position in SPDR S&P Biotech ETF in the first quarter valued at about $547,000. Apella Capital LLC acquired a new stake in SPDR S&P Biotech ETF during the 4th quarter valued at approximately $490,000. Banque Pictet & Cie SA increased its holdings in SPDR S&P Biotech ETF by 24.1% during the 4th quarter. Banque Pictet & Cie SA now owns 64,877 shares of the exchange traded fund’s stock worth $7,910,000 after purchasing an additional 12,595 shares during the last quarter. Keystone Investors PTE Ltd. purchased a new stake in SPDR S&P Biotech ETF during the 4th quarter worth approximately $12,022,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of SPDR S&P Biotech ETF by 106.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,570 shares of the exchange traded fund’s stock valued at $3,240,000 after purchasing an additional 13,729 shares in the last quarter.

SPDR S&P Biotech ETF Stock Up 2.4%

Shares of XBI opened at $154.50 on Wednesday. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 11.47 and a beta of 0.82. The business’s 50 day moving average is $143.17 and its two-hundred day moving average is $132.89. SPDR S&P Biotech ETF has a 52-week low of $84.39 and a 52-week 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.