Highland Capital Management LLC Invests $2.28 Million in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Highland Capital Management LLC acquired a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,105 shares of the exchange traded fund’s stock, valued at approximately $2,283,000.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in shares of SPDR S&P Biotech ETF in the 2nd quarter valued at about $40,000. ORG Wealth Partners LLC bought a new stake in SPDR S&P Biotech ETF during the third quarter valued at approximately $44,000. Waldron Private Wealth LLC purchased a new position in SPDR S&P Biotech ETF in the 3rd quarter worth approximately $54,000. Resources Management Corp CT ADV grew its stake in SPDR S&P Biotech ETF by 30.3% in the 2nd quarter. Resources Management Corp CT ADV now owns 593 shares of the exchange traded fund’s stock worth $55,000 after buying an additional 138 shares in the last quarter. Finally, Lynx Investment Advisory bought a new position in shares of SPDR S&P Biotech ETF in the 2nd quarter worth $58,000.

SPDR S&P Biotech ETF Stock Performance

NYSEARCA XBI opened at $97.15 on Friday. SPDR S&P Biotech ETF has a 52-week low of $63.80 and a 52-week high of $103.52. The company has a fifty day moving average of $99.14 and a 200-day moving average of $94.62. The company has a market capitalization of $7.40 billion, a P/E ratio of 11.47 and a beta of 1.11.

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.