Encore Global Management LP Purchases New Position in SPDR S&P Biotech ETF $XBI

Encore Global Management LP acquired a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 10,800 shares of the exchange traded fund’s stock, valued at approximately $1,379,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Life Planners purchased a new stake in shares of SPDR S&P Biotech ETF in the first quarter worth about $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 4th quarter valued at about $27,000. Intesa Sanpaolo Wealth Management acquired a new position in SPDR S&P Biotech ETF during the 4th quarter worth approximately $30,000. SHP Wealth Management acquired a new position in SPDR S&P Biotech ETF during the 4th quarter worth approximately $31,000. Finally, Legacy Wealth Managment LLC ID purchased a new position in SPDR S&P Biotech ETF in the 4th quarter worth approximately $32,000.

SPDR S&P Biotech ETF Stock Down 0.5%

Shares of NYSEARCA:XBI opened at $149.78 on Wednesday. SPDR S&P Biotech ETF has a 52-week low of $84.39 and a 52-week high of $165.71. The company has a 50 day moving average of $145.16 and a two-hundred day moving average of $133.90. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 11.47 and a beta of 0.82.

SPDR S&P Biotech ETF 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.