Principal Securities Inc. Increases Investment in SPDR S&P Biotech ETF

Principal Securities Inc. has increased its investment in the SPDR S&P Biotech ETF (NYSEARCA:XBI) by a remarkable 37.9% during the last quarter of the previous year. This information was disclosed in the company's latest Form 13F filing with the SEC. Following this investment, the firm now holds a total of 12,106 shares in the ETF after acquiring an additional 3,325 shares during the quarter. The total value of Principal Securities Inc.’s holdings in the SPDR S&P Biotech ETF stands at approximately $1,090,000 as of the conclusion of the most recent quarter.

In addition to Principal Securities, several other institutional investors have also adjusted their positions in XBI recently. For instance, Creative Planning boosted its stake in the SPDR S&P Biotech ETF by 15.6% in the third quarter. Post-acquisition of an extra 3,920 shares, Creative Planning now owns 29,114 shares valued at around $2,876,000.

Moreover, Howard Capital Management Group LLC saw an increase of 2.6% in its holdings during the same period. After purchasing an additional 6,188 shares, it now holds a total of 248,114 shares worth $24,514,000. Additionally, Stratos Wealth Advisors LLC grew its investment in the ETF by 6.8%, now holding 2,674 shares valued at $264,000 after acquiring 170 more shares.

Sequoia Financial Advisors LLC significantly ramped up its position in the SPDR S&P Biotech ETF by 74.7% during the third quarter, which includes buying an additional 1,711 shares for a total of 4,002 shares worth about $395,000. Similarly, Leo Wealth LLC increased its holdings by 30.6%, now owning 4,281 shares after acquiring 1,002 shares during the quarter, bringing its holdings valued at $423,000.

SPDR S&P Biotech ETF Performance

As of Thursday, SPDR S&P Biotech ETF shares opened at $92.53. The ETF has a fifty-day moving average of $91.42, while the two-hundred-day moving average is $96.00. With a market capitalization of $7.05 billion, the fund has a P/E ratio of 11.47 and a beta of 1.11. The SPDR S&P Biotech ETF's lowest point over the past year is $81.14, while it peaked at $105.47.

About SPDR S&P Biotech ETF

The SPDR S&P Biotech ETF aims to closely follow the performance and characteristics of the S&P Biotechnology Select Industry Index, which reflects the biotechnology sector of the broader S&P Total Markets Index. This index tracks all common stocks in the United States listed on major exchanges, including the New York Stock Exchange and NASDAQ.

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