Merit Financial Group LLC Reduces Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Merit Financial Group LLC trimmed its stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) by 45.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,461 shares of the exchange traded fund’s stock after selling 2,046 shares during the quarter. Merit Financial Group LLC’s holdings in SPDR S&P Biotech ETF were worth $220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. EPG Wealth Management LLC lifted its holdings in SPDR S&P Biotech ETF by 152.7% in the 3rd quarter. EPG Wealth Management LLC now owns 460 shares of the exchange traded fund’s stock valued at $34,000 after purchasing an additional 278 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in SPDR S&P Biotech ETF during the fourth quarter worth approximately $44,000. Wetzel Investment Advisors Inc. purchased a new stake in SPDR S&P Biotech ETF in the 4th quarter worth approximately $45,000. Life Planning Partners Inc acquired a new position in SPDR S&P Biotech ETF in the 4th quarter valued at $64,000. Finally, Albion Financial Group UT purchased a new position in shares of SPDR S&P Biotech ETF during the 4th quarter worth $69,000.

SPDR S&P Biotech ETF Stock Down 0.1 %

XBI stock opened at $89.02 on Friday. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 11.47 and a beta of 1.11. The stock’s fifty day simple moving average is $91.25 and its 200-day simple moving average is $85.82. SPDR S&P Biotech ETF has a 52-week low of $63.80 and a 52-week high of $103.52.

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.