SPDR S&P Biotech ETF (NYSEARCA:XBI) Sees Large Volume Increase – Should You Buy?

SPDR S&P Biotech ETF (NYSEARCA:XBI) shares saw strong trading volume on Friday . 8,628,745 shares changed hands during trading, a decline of 8% from the previous session’s volume of 9,365,712 shares.The stock last traded at $93.35 and had previously closed at $96.96.

SPDR S&P Biotech ETF Trading Down 4.7 %

The company has a market cap of $7.04 billion, a price-to-earnings ratio of 11.47 and a beta of 1.11. The business has a fifty day moving average of $99.04 and a two-hundred day moving average of $95.99.

Institutional Trading of SPDR S&P Biotech ETF

A number of institutional investors have recently made changes to their positions in XBI. Tidemark LLC lifted its stake in shares of SPDR S&P Biotech ETF by 101.5% in the 3rd quarter. Tidemark LLC now owns 395 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 199 shares during the last quarter. ORG Partners LLC purchased a new position in shares of SPDR S&P Biotech ETF in the 2nd quarter valued at about $40,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of SPDR S&P Biotech ETF in the 3rd quarter valued at about $40,000. ORG Wealth Partners LLC acquired a new position in SPDR S&P Biotech ETF in the third quarter valued at $44,000. Finally, Howe & Rusling Inc. purchased a new position in SPDR S&P Biotech ETF in the 3rd quarter valued at $49,000.

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.