SPDR S&P Biotech ETF (NYSEARCA:XBI) Sets New 52-Week Low – Here’s Why

SPDR S&P Biotech ETF (NYSEARCA:XBI)’s stock price reached a new 52-week low during trading 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 Price Performance

The company has a market cap of $4.93 billion, a P/E ratio of 11.47 and a beta of 1.00. The company’s 50-day moving average is $89.02 and its two-hundred day moving average is $93.62.

SPDR S&P Biotech ETF Cuts Dividend

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

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Several institutional investors have recently modified their holdings of the business. Demars Financial Group LLC bought a new stake in SPDR S&P Biotech ETF in the 4th quarter worth approximately $280,309,000. BlueCrest Capital Management Ltd purchased a new stake in SPDR S&P Biotech ETF during the fourth quarter valued at $138,051,000. Mirae Asset Securities USA Inc. lifted its holdings in SPDR S&P Biotech ETF by 66.7% in the fourth quarter. Mirae Asset Securities USA Inc. now owns 1,500,000 shares of the exchange traded fund’s stock valued at $135,090,000 after acquiring an additional 600,000 shares during the period. Bessemer Group Inc. boosted its position in SPDR S&P Biotech ETF by 5.7% in the fourth quarter. Bessemer Group Inc. now owns 1,376,834 shares of the exchange traded fund’s stock worth $123,997,000 after purchasing an additional 73,866 shares during the last quarter. Finally, RA Capital Management L.P. bought a new stake in shares of SPDR S&P Biotech ETF during the 4th quarter valued at about $110,615,000.

SPDR S&P Biotech ETF Company Profile

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.