ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Short Interest Down 40.1% in July

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 57,777 shares, a drop of 40.1% from the June 30th total of 96,526 shares. Based on an average daily volume of 68,640 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.8% of the shares of the company are short sold.

Institutional Trading of ALPS Medical Breakthroughs ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fulcrum Equity Management purchased a new position in ALPS Medical Breakthroughs ETF during the second quarter worth about $263,000. Harbor Investment Advisory LLC purchased a new stake in ALPS Medical Breakthroughs ETF in the 2nd quarter valued at approximately $29,000. Bank of America Corp DE increased its position in ALPS Medical Breakthroughs ETF by 63.1% during the 1st quarter. Bank of America Corp DE now owns 98,679 shares of the company’s stock worth $5,165,000 after purchasing an additional 38,193 shares during the period. Independent Financial Group LLC acquired a new position in ALPS Medical Breakthroughs ETF during the 1st quarter worth approximately $283,000. Finally, Sterling Investment Advisors Ltd. raised its stake in shares of ALPS Medical Breakthroughs ETF by 50.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 22,025 shares of the company’s stock worth $1,153,000 after buying an additional 7,350 shares in the last quarter.

ALPS Medical Breakthroughs ETF Stock Performance

NYSEARCA:SBIO traded down $1.84 during midday trading on Friday, reaching $63.36. The stock had a trading volume of 27,389 shares, compared to its average volume of 37,399. The firm has a fifty day simple moving average of $59.65 and a two-hundred day simple moving average of $54.88. ALPS Medical Breakthroughs ETF has a 12-month low of $32.35 and a 12-month high of $69.34.

ALPS Medical Breakthroughs ETF Company Profile

The ALPS Medical Breakthroughs ETF (SBIO) is an exchange-traded fund that is based on the S-Network Medical Breakthroughs index. The fund tracks, a market-cap weighted index comprising US-listed biotech companies with one or more drugs currently in either Phase II or Phase III FDA clinical trials. SBIO was launched on Dec 31, 2014 and is managed by ALPS.