Kovack Advisors Inc. Lowers Stock Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

Kovack Advisors Inc. reduced its stake in SPDR S&P Biotech ETF (NYSEARCA:XBI) by 36.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,962 shares of the exchange traded fund’s stock after selling 2,257 shares during the quarter. Kovack Advisors Inc.’s holdings in SPDR S&P Biotech ETF were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Scotia Capital Inc. grew its position in SPDR S&P Biotech ETF by 4.9% during the third quarter. Scotia Capital Inc. now owns 41,137 shares of the exchange traded fund’s stock valued at $3,004,000 after acquiring an additional 1,933 shares during the last quarter. Ramirez Asset Management Inc. bought a new position in SPDR S&P Biotech ETF during the third quarter valued at approximately $100,000. Integrated Wealth Concepts LLC grew its position in SPDR S&P Biotech ETF by 9.3% during the third quarter. Integrated Wealth Concepts LLC now owns 23,656 shares of the exchange traded fund’s stock valued at $1,727,000 after acquiring an additional 2,021 shares during the last quarter. Advisors Capital Management LLC grew its position in SPDR S&P Biotech ETF by 5.7% during the third quarter. Advisors Capital Management LLC now owns 4,563 shares of the exchange traded fund’s stock valued at $333,000 after acquiring an additional 248 shares during the last quarter. Finally, Obsidian Personal Planning Solutions LLC bought a new position in SPDR S&P Biotech ETF during the third quarter valued at approximately $522,000.

SPDR S&P Biotech ETF Price Performance

Shares of NYSEARCA XBI opened at $90.87 on Friday. SPDR S&P Biotech ETF has a one year low of $63.80 and a one year high of $103.52. The firm’s 50 day simple moving average is $90.58 and its two-hundred day simple moving average is $90.94. The stock has a market capitalization of $6.93 billion, a P/E ratio of 11.47 and a beta of 1.11.

SPDR S&P Biotech ETF Profile

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.