ST Germain D J Co. Inc. Purchases Shares in SPDR S&P Biotech ETF

ST Germain D J Co. Inc. made a significant move by acquiring a new stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) during the fourth quarter of the previous year, as reported by HoldingsChannel.com. The investment firm added 1,200 shares of the ETF to its portfolio, which is valued at approximately $108,000.

This acquisition is part of a broader trend, as several institutional investors and hedge funds have also shown interest in SPDR S&P Biotech ETF recently. For instance, the Healthcare of Ontario Pension Plan Trust Fund increased its investment in the ETF by an impressive 198.6% in the third quarter, resulting in a total ownership of 9,229,000 shares valued at about $911.8 million after acquiring an additional 6,138,000 shares in that period.

Another notable player is Clal Insurance Enterprises Holdings Ltd, which purchased a new stake in the SPDR S&P Biotech ETF during the same quarter, amounting to approximately $141.3 million. Additionally, Affinity Asset Advisors LLC expanded its position in the ETF by 105.4% in the second quarter, now holding a total of 37,550 shares worth $3.5 million following the purchase of an additional 737,550 shares recently.

Assetmark Inc. made headlines by boosting its stake in shares of SPDR S&P Biotech ETF by a staggering 72,653.0% in the third quarter. After the increase, Assetmark owns 589,299 shares valued at $58.2 million, having acquired an additional 588,489 shares during the period. Lastly, Sivik Global Healthcare LLC also entered the arena with a new position in the ETF, valued at approximately $29.6 million.

Performance of SPDR S&P Biotech ETF Stock

As for the ETF's performance, the stock opened at $89.44 recently. The 50-day moving average stands at $95.48, while the 200-day moving average is $97.09. The firm has a market capitalization of $6.82 billion, a price-to-earnings (PE) ratio of 11.47, and a beta of 1.11. Over the past year, the SPDR S&P Biotech ETF has recorded a low of $81.14 and a high of $105.47.

About the SPDR S&P Biotech ETF

SPDR S&P Biotech ETF aims to closely match the performance and characteristics of the S&P Biotechnology Select Industry Index. This index comprises stocks from the biotechnology sub-industry and is a component of the larger S&P Total Markets Index, which tracks all common stocks listed on major U.S. exchanges such as the New York Stock Exchange and NASDAQ.

Conclusion

The interest in SPDR S&P Biotech ETF among institutional investors indicates a positive outlook for the biotech sector, as large funds continue to allocate resources into this area.

investment, biotech, ETF