Bristlecone Advisors LLC Cuts Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Bristlecone Advisors LLC decreased its position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,048 shares of the exchange traded fund’s stock after selling 905 shares during the period. Bristlecone Advisors LLC’s holdings in SPDR S&P Biotech ETF were worth $1,715,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of SPDR S&P Biotech ETF during the 4th quarter valued at about $29,000. Avior Wealth Management LLC raised its stake in shares of SPDR S&P Biotech ETF by 393.6% during the fourth quarter. Avior Wealth Management LLC now owns 385 shares of the exchange traded fund’s stock worth $35,000 after acquiring an additional 307 shares in the last quarter. Tidemark LLC lifted its holdings in shares of SPDR S&P Biotech ETF by 101.5% in the 3rd quarter. Tidemark LLC now owns 395 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 199 shares during the last quarter. Quintet Private Bank Europe S.A. bought a new position in shares of SPDR S&P Biotech ETF during the 3rd quarter valued at $40,000. Finally, ORG Wealth Partners LLC purchased a new position in SPDR S&P Biotech ETF in the 3rd quarter worth $44,000.

SPDR S&P Biotech ETF Stock Down 2.3 %

NYSEARCA XBI opened at $91.24 on Monday. The company has a 50-day simple moving average of $92.58 and a two-hundred day simple moving average of $96.46. SPDR S&P Biotech ETF has a 12-month low of $81.14 and a 12-month high of $105.47. The firm has a market cap of $6.95 billion, a price-to-earnings 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.