Patten & Patten Inc. TN Trims Stake in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Patten & Patten Inc. TN reduced its holdings in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,345 shares of the exchange traded fund’s stock after selling 365 shares during the period. Patten & Patten Inc. TN’s holdings in SPDR S&P Biotech ETF were worth $602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new stake in shares of SPDR S&P Biotech ETF in the fourth quarter worth $27,000. Scarborough Advisors LLC purchased a new stake in shares of SPDR S&P Biotech ETF in the fourth quarter worth $32,000. BOCHK Asset Management Ltd purchased a new position in SPDR S&P Biotech ETF during the fourth quarter valued at $36,000. Tennessee Valley Asset Management Partners purchased a new position in SPDR S&P Biotech ETF during the fourth quarter valued at $44,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in SPDR S&P Biotech ETF during the fourth quarter valued at $45,000.

SPDR S&P Biotech ETF Trading Up 1.4 %

XBI traded up $1.38 during trading on Monday, hitting $98.89. 5,191,905 shares of the company traded hands, compared to its average volume of 10,443,304. The company has a market cap of $7.54 billion, a PE ratio of 11.47 and a beta of 1.11. The stock’s 50-day simple moving average is $92.62 and its two-hundred day simple moving average is $91.70. SPDR S&P Biotech ETF has a 1 year low of $63.80 and a 1 year high of $103.52.

About SPDR S&P Biotech ETF

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.