Econ Financial Services Corp Takes $1.95 Million Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Econ Financial Services Corp purchased a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,610 shares of the exchange traded fund’s stock, valued at approximately $1,946,000.

A number of other hedge funds have also recently bought and sold shares of the business. Avior Wealth Management LLC boosted its stake in shares of SPDR S&P Biotech ETF by 393.6% during the 4th quarter. Avior Wealth Management LLC now owns 385 shares of the exchange traded fund’s stock valued at $35,000 after buying an additional 307 shares during the last quarter. Tidemark LLC boosted its stake in SPDR S&P Biotech ETF by 101.5% during the 3rd quarter. Tidemark LLC now owns 395 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 199 shares during the last quarter. Quintet Private Bank Europe S.A. acquired a new position in SPDR S&P Biotech ETF during the 3rd quarter worth $40,000. ORG Wealth Partners LLC bought a new stake in shares of SPDR S&P Biotech ETF in the 3rd quarter worth about $44,000. Finally, Howe & Rusling Inc. acquired a new stake in shares of SPDR S&P Biotech ETF in the 3rd quarter valued at about $49,000.

SPDR S&P Biotech ETF Stock Performance

NYSEARCA:XBI opened at $92.57 on Wednesday. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 11.47 and a beta of 1.11. SPDR S&P Biotech ETF has a one year low of $81.14 and a one year high of $105.47. The stock has a 50-day simple moving average of $92.99 and a 200 day simple moving average of $96.59.

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.