Investors Buy SPDR S&P Biotech ETF (XBI) on Weakness
Traders bought shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) on weakness during trading hours on Thursday. $150.98 million flowed into the stock on the tick-up and $114.94 million flowed out of the stock on the tick-down, for a money net flow of $36.04 million into the stock. Of all companies tracked, SPDR S&P Biotech ETF had the 26th highest net in-flow for the day. SPDR S&P Biotech ETF traded down ($0.20) for the day and closed at $84.63
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cranbrook Wealth Management LLC bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth about $26,000. Gradient Investments LLC bought a new stake in SPDR S&P Biotech ETF during the first quarter worth about $27,000. Truewealth LLC bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth about $29,000. Quattro Financial Advisors LLC raised its holdings in SPDR S&P Biotech ETF by 49.6% during the fourth quarter. Quattro Financial Advisors LLC now owns 374 shares of the exchange traded fund’s stock worth $31,000 after acquiring an additional 124 shares in the last quarter. Finally, Lehman & Derafelo Financial Resources LLC bought a new stake in SPDR S&P Biotech ETF during the fourth quarter worth about $32,000.
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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.
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