SPDR S&P Biotech ETF (NYSEARCA:XBI) Position Reduced by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its position in SPDR S&P Biotech ETF (NYSEARCA:XBI) by 32.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,991 shares of the exchange traded fund’s stock after selling 3,355 shares during the quarter. Pinnacle Associates Ltd.’s holdings in SPDR S&P Biotech ETF were worth $691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of XBI. ORG Partners LLC bought a new stake in shares of SPDR S&P Biotech ETF during the second quarter valued at approximately $40,000. ORG Wealth Partners LLC purchased a new position in SPDR S&P Biotech ETF during the third quarter valued at approximately $44,000. Waldron Private Wealth LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the 3rd quarter worth about $54,000. Resources Management Corp CT ADV raised its position in SPDR S&P Biotech ETF by 30.3% during the second quarter. Resources Management Corp CT ADV now owns 593 shares of the exchange traded fund’s stock valued at $55,000 after acquiring an additional 138 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in SPDR S&P Biotech ETF in the second quarter worth approximately $58,000.

SPDR S&P Biotech ETF Stock Up 2.3 %

Shares of XBI opened at $99.27 on Friday. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 11.47 and a beta of 1.11. The company’s fifty day moving average is $98.88 and its 200-day moving average is $94.90. SPDR S&P Biotech ETF has a 12 month low of $64.99 and a 12 month high of $103.52.

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.