Pier 88 Investment Partners LLC Makes New $247,000 Investment in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Pier 88 Investment Partners LLC bought a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500 shares of the exchange traded fund’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC purchased a new stake in SPDR S&P Biotech ETF in the 2nd quarter worth approximately $40,000. Quintet Private Bank Europe S.A. acquired a new stake in SPDR S&P Biotech ETF during the third quarter valued at $40,000. ORG Wealth Partners LLC purchased a new position in SPDR S&P Biotech ETF in the third quarter valued at about $44,000. Waldron Private Wealth LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the 3rd quarter worth about $54,000. Finally, Resources Management Corp CT ADV raised its position in SPDR S&P Biotech ETF by 30.3% during the second quarter. Resources Management Corp CT ADV now owns 593 shares of the exchange traded fund’s stock valued at $55,000 after acquiring an additional 138 shares in the last quarter.

SPDR S&P Biotech ETF Trading Down 0.5 %

XBI stock opened at $100.01 on Thursday. The firm has a market cap of $7.62 billion, a PE ratio of 11.47 and a beta of 1.11. SPDR S&P Biotech ETF has a 1 year low of $69.32 and a 1 year high of $105.47. The company has a fifty day simple moving average of $99.07 and a 200 day simple moving average of $95.98.

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.