SPDR S&P Biotech ETF (NYSEARCA:XBI) Reaches New 52-Week Low – What’s Next?

SPDR S&P Biotech ETF (NYSEARCA:XBI)’s stock price reached a new 52-week low on Monday . The company traded as low as $79.32 and last traded at $80.57, with a volume of 3878634 shares changing hands. The stock had previously closed at $84.40.

SPDR S&P Biotech ETF Stock Performance

The firm has a fifty day moving average price of $89.40 and a 200-day moving average price of $93.91. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 11.47 and a beta of 0.99.

SPDR S&P Biotech ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 26th. Stockholders of record on Monday, March 24th were given a $0.0053 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in XBI. Kohmann Bosshard Financial Services LLC bought a new position in shares of SPDR S&P Biotech ETF in the fourth quarter worth about $29,000. Golden State Wealth Management LLC acquired a new position in SPDR S&P Biotech ETF during the 4th quarter worth approximately $29,000. Avior Wealth Management LLC lifted its stake in SPDR S&P Biotech ETF by 393.6% in the 4th quarter. Avior Wealth Management LLC now owns 385 shares of the exchange traded fund’s stock valued at $35,000 after purchasing an additional 307 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in SPDR S&P Biotech ETF in the fourth quarter valued at approximately $38,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter worth $43,000.

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.