Crescent Grove Advisors LLC Cuts Stock Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Crescent Grove Advisors LLC cut its stake in shares of SPDR S&P Biotech ETF (NYSEARCA:XBI) by 6.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 97,218 shares of the exchange traded fund’s stock after selling 6,285 shares during the period. SPDR S&P Biotech ETF comprises about 1.0% of Crescent Grove Advisors LLC’s holdings, making the stock its 23rd biggest holding. Crescent Grove Advisors LLC owned 0.13% of SPDR S&P Biotech ETF worth $9,605,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in shares of SPDR S&P Biotech ETF by 3.4% during the second quarter. Fifth Third Bancorp now owns 118,303 shares of the exchange traded fund’s stock worth $10,968,000 after purchasing an additional 3,922 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of SPDR S&P Biotech ETF by 17.2% in the first quarter. Avantax Advisory Services Inc. now owns 9,619 shares of the exchange traded fund’s stock valued at $913,000 after buying an additional 1,415 shares during the last quarter. PFG Investments LLC lifted its stake in shares of SPDR S&P Biotech ETF by 9.2% in the second quarter. PFG Investments LLC now owns 24,844 shares of the exchange traded fund’s stock worth $2,303,000 after buying an additional 2,097 shares in the last quarter. IFG Advisory LLC acquired a new position in SPDR S&P Biotech ETF during the second quarter worth about $241,000. Finally, Atria Wealth Solutions Inc. grew its stake in SPDR S&P Biotech ETF by 56.1% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,597 shares of the exchange traded fund’s stock valued at $1,539,000 after acquiring an additional 5,962 shares in the last quarter.

SPDR S&P Biotech ETF Price Performance

XBI opened at $100.62 on Wednesday. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 11.47 and a beta of 1.11. The company’s 50 day simple moving average is $98.83 and its two-hundred day simple moving average is $95.15. SPDR S&P Biotech ETF has a 1-year low of $64.99 and a 1-year high of $103.52.

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.