Cornerstone Enterprises LLC Makes New Investment in SPDR S&P Biotech ETF $XBI

Cornerstone Enterprises LLC purchased a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 9,262 shares of the exchange traded fund’s stock, valued at approximately $1,460,000. SPDR S&P Biotech ETF makes up about 0.9% of Cornerstone Enterprises LLC’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Axiom Investment Management LLC purchased a new stake in shares of SPDR S&P Biotech ETF in the first quarter worth about $26,000. Financial Life Planners acquired a new stake in shares of SPDR S&P Biotech ETF in the first quarter valued at about $27,000. Angeles Wealth Management LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the 2nd quarter valued at about $28,000. SHP Wealth Management purchased a new stake in shares of SPDR S&P Biotech ETF during the 4th quarter valued at about $31,000. Finally, Morling Financial Advisors LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the 2nd quarter valued at about $36,000.

SPDR S&P Biotech ETF Stock Performance

SPDR S&P Biotech ETF stock opened at $149.78 on Friday. The stock’s 50 day moving average price is $158.35 and its 200 day moving average price is $146.89. The firm has a market capitalization of $10.04 billion, a PE ratio of 11.47 and a beta of 0.83. SPDR S&P Biotech ETF has a one year low of $106.30 and a one year high of $169.89.

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.