Absolute Capital Management LLC Acquires New Holdings in SPDR S&P Biotech ETF $XBI

Absolute Capital Management LLC bought a new position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,300 shares of the exchange traded fund’s stock, valued at approximately $1,232,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AdvisorNet Financial Inc boosted its position in SPDR S&P Biotech ETF by 7.3% during the third quarter. AdvisorNet Financial Inc now owns 1,463 shares of the exchange traded fund’s stock valued at $147,000 after purchasing an additional 100 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of SPDR S&P Biotech ETF by 3.1% during the third quarter. Sequoia Financial Advisors LLC now owns 3,393 shares of the exchange traded fund’s stock valued at $340,000 after buying an additional 101 shares during the last quarter. CWC Advisors LLC. boosted its holdings in shares of SPDR S&P Biotech ETF by 2.8% in the 3rd quarter. CWC Advisors LLC. now owns 5,707 shares of the exchange traded fund’s stock valued at $572,000 after buying an additional 157 shares in the last quarter. Patten & Patten Inc. TN grew its position in shares of SPDR S&P Biotech ETF by 2.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 5,826 shares of the exchange traded fund’s stock worth $584,000 after buying an additional 165 shares during the last quarter. Finally, Comprehensive Money Management Services LLC raised its stake in shares of SPDR S&P Biotech ETF by 4.4% during the 3rd quarter. Comprehensive Money Management Services LLC now owns 4,546 shares of the exchange traded fund’s stock worth $456,000 after acquiring an additional 193 shares in the last quarter.

SPDR S&P Biotech ETF Stock Down 2.0%

Shares of XBI opened at $125.94 on Thursday. The company has a 50 day moving average of $123.36 and a two-hundred day moving average of $106.71. SPDR S&P Biotech ETF has a twelve month low of $66.66 and a twelve month high of $132.09. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 11.47 and a beta of 0.93.

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. The Biotech Index is a modified equal weight index.