ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Stock Price Down 2.3% – Should You Sell?

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO)’s stock price dropped 2.3% during mid-day trading on Monday . The company traded as low as $36.64 and last traded at $36.81. Approximately 6,111 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 10,543 shares. The stock had previously closed at $37.67.

ALPS Medical Breakthroughs ETF Stock Performance

The business has a 50-day moving average of $36.71 and a two-hundred day moving average of $35.07.

Hedge Funds Weigh In On ALPS Medical Breakthroughs ETF

Several institutional investors and hedge funds have recently bought and sold shares of SBIO. Central Valley Advisors LLC purchased a new stake in shares of ALPS Medical Breakthroughs ETF during the first quarter valued at $200,000. Financial Advocates Investment Management lifted its holdings in shares of ALPS Medical Breakthroughs ETF by 5.3% during the second quarter. Financial Advocates Investment Management now owns 7,670 shares of the company’s stock worth $258,000 after purchasing an additional 385 shares during the period. Virtu Financial LLC purchased a new stake in ALPS Medical Breakthroughs ETF in the fourth quarter valued at approximately $518,000. Ridgewood Investments LLC acquired a new position in ALPS Medical Breakthroughs ETF in the 2nd quarter worth approximately $675,000. Finally, Griffin Asset Management Inc. raised its position in ALPS Medical Breakthroughs ETF by 188.3% during the 2nd quarter. Griffin Asset Management Inc. now owns 22,965 shares of the company’s stock worth $771,000 after buying an additional 15,000 shares during the last quarter.

ALPS Medical Breakthroughs ETF Company Profile

The ALPS Medical Breakthroughs ETF (SBIO) is an exchange-traded fund that is based on the S-Network Medical Breakthroughs index. The fund tracks, a market-cap weighted index comprising US-listed biotech companies with one or more drugs currently in either Phase II or Phase III FDA clinical trials. SBIO was launched on Dec 31, 2014 and is managed by ALPS.