ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Sees Large Drop in Short Interest

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 13,369 shares, a decrease of 78.3% from the August 31st total of 61,681 shares. Based on an average daily trading volume, of 33,735 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.

ALPS Medical Breakthroughs ETF Stock Down 1.7%

SBIO stock traded down $0.99 during trading on Friday, hitting $57.56. 36,976 shares of the company traded hands, compared to its average volume of 38,268. The stock’s 50-day simple moving average is $65.54 and its 200 day simple moving average is $58.96. ALPS Medical Breakthroughs ETF has a 1 year low of $37.04 and a 1 year high of $70.85.

Hedge Funds Weigh In On ALPS Medical Breakthroughs ETF

Several institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in ALPS Medical Breakthroughs ETF during the second quarter worth $29,000. Fulcrum Equity Management purchased a new position in ALPS Medical Breakthroughs ETF in the second quarter valued at $263,000. Independent Financial Group LLC acquired a new position in shares of ALPS Medical Breakthroughs ETF in the first quarter worth about $283,000. Kestra Advisory Services LLC raised its position in shares of ALPS Medical Breakthroughs ETF by 27.6% in the first quarter. Kestra Advisory Services LLC now owns 8,186 shares of the company’s stock worth $428,000 after acquiring an additional 1,772 shares during the period. Finally, Silver Oak Securities Incorporated boosted its stake in shares of ALPS Medical Breakthroughs ETF by 24.4% during the 1st quarter. Silver Oak Securities Incorporated now owns 16,589 shares of the company’s stock worth $868,000 after acquiring an additional 3,254 shares in the last quarter.

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.