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Hillcrest Wealth Advisors Reduces Stake in SPDR S&P Biotech ETF

Hillcrest Wealth Advisors NY LLC has decreased its holdings in the SPDR S&P Biotech ETF (NYSEARCA:XBI) by 10.4% in the second quarter of this year. According to Holdings Channel, the firm now owns 19,413 shares of the exchange-traded fund, following the sale of 2,260 shares during the period. This reduction means that the SPDR S&P Biotech ETF now represents 0.8% of Hillcrest’s investment portfolio, making it the firm’s 22nd largest holding.

At the close of the most recent quarter, Hillcrest’s holdings in the SPDR S&P Biotech ETF were valued at approximately $1,610,000. The change in Hillcrest’s position reflects broader trends among institutional investors, with several hedge funds adjusting their stakes in the ETF during the same timeframe.

Institutional Investor Activity

Notably, JPMorgan Chase & Co. significantly increased its investment in the SPDR S&P Biotech ETF by 625.1% during the first quarter. The financial giant now owns 10,369,706 shares, valued at around $840,983,000, after acquiring an additional 12,344,558 shares.

Similarly, Goldman Sachs Group Inc. raised its position in the ETF by 33.0%, bringing its total to 13,524,858 shares, worth approximately $1,096,866,000 after purchasing an additional 3,353,029 shares. Other notable investors include Simplex Trading LLC, which grew its holdings by 116.1%, now owning 241,039 shares valued at about $19,548,000.

Additionally, Migdal Insurance & Financial Holdings Ltd. and Harel Insurance Investments & Financial Services Ltd. both established new stakes in the ETF, valued at $85,155,000 and $48,660,000 respectively.

Current Performance of SPDR S&P Biotech ETF

As of Monday, the SPDR S&P Biotech ETF opened at $103.60, reflecting a 1.0% increase. The stock has a 50-day moving average of $92.10 and a 200-day moving average of $85.14. Over the past year, the ETF has experienced fluctuations, with a 12-month low of $66.66 and a 12-month high of $105.47. The ETF boasts a market cap of $5.91 billion, a price-to-earnings ratio of 11.47, and a beta of 0.97.

The SPDR S&P Biotech ETF aims to closely match the returns and characteristics of the S&P Biotechnology Select Industry Index, which represents the biotechnology segment of the broader S&P Total Markets Index. This index tracks all common stocks listed on major U.S. exchanges, providing a comprehensive overview of the biotechnology industry.

For those interested in tracking institutional investments in the SPDR S&P Biotech ETF, HoldingsChannel.com provides the latest 13F filings and insider trades.

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