Pettinga Financial Advisors LLC Decreases Position in SPDR S&P Biotech ETF $XBI

Pettinga Financial Advisors LLC decreased its position in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 75.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,275 shares of the exchange traded fund’s stock after selling 3,886 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in SPDR S&P Biotech ETF were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of SPDR S&P Biotech ETF by 13.3% in the 1st quarter. Bank of America Corp DE now owns 14,518,027 shares of the exchange traded fund’s stock worth $1,854,388,000 after purchasing an additional 1,700,851 shares in the last quarter. Morgan Stanley lifted its holdings in shares of SPDR S&P Biotech ETF by 8.3% during the fourth quarter. Morgan Stanley now owns 11,491,683 shares of the exchange traded fund’s stock valued at $1,401,181,000 after purchasing an additional 882,718 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of SPDR S&P Biotech ETF by 75.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,566,265 shares of the exchange traded fund’s stock valued at $434,835,000 after purchasing an additional 1,536,122 shares in the last quarter. Avoro Capital Advisors LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the fourth quarter valued at $256,053,000. Finally, Bessemer Group Inc. boosted its position in shares of SPDR S&P Biotech ETF by 13.5% during the fourth quarter. Bessemer Group Inc. now owns 1,853,232 shares of the exchange traded fund’s stock valued at $225,965,000 after buying an additional 220,244 shares during the last quarter.

SPDR S&P Biotech ETF Price Performance

Shares of NYSEARCA XBI opened at $157.37 on Monday. The firm’s 50-day moving average price is $148.00 and its 200-day moving average price is $135.41. SPDR S&P Biotech ETF has a 52-week low of $84.81 and a 52-week high of $165.71. The company has a market cap of $10.28 billion, a PE ratio of 11.47 and a beta of 0.83.

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. The Biotech Index is a modified equal weight index.