Truist Financial Corp Cuts Stake in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Truist Financial Corp trimmed its holdings in SPDR S&P Biotech ETF (NYSEARCA:XBI) by 16.9% in the fourth quarter, HoldingsChannel reports. The fund owned 32,609 shares of the exchange traded fund’s stock after selling 6,625 shares during the period. Truist Financial Corp’s holdings in SPDR S&P Biotech ETF were worth $2,912,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in XBI. EPG Wealth Management LLC increased its stake in shares of SPDR S&P Biotech ETF by 152.7% in the third quarter. EPG Wealth Management LLC now owns 460 shares of the exchange traded fund’s stock worth $34,000 after buying an additional 278 shares during the period. Tennessee Valley Asset Management Partners bought a new position in shares of SPDR S&P Biotech ETF during the fourth quarter valued at about $44,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter worth about $45,000. Life Planning Partners Inc bought a new stake in shares of SPDR S&P Biotech ETF in the fourth quarter worth about $64,000. Finally, Albion Financial Group UT purchased a new position in SPDR S&P Biotech ETF during the 4th quarter valued at about $69,000.

SPDR S&P Biotech ETF Stock Performance

NYSEARCA XBI opened at $90.43 on Wednesday. SPDR S&P Biotech ETF has a fifty-two week low of $63.80 and a fifty-two week high of $103.52. The stock has a market cap of $6.89 billion, a P/E ratio of 11.47 and a beta of 1.11. The stock has a 50 day simple moving average of $91.93 and a two-hundred day simple moving average of $85.61.

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.