Covenant Asset Management LLC Takes $1.15 Million Position in SPDR S&P Biotech (XBI)

Covenant Asset Management LLC purchased a new stake in shares of SPDR S&P Biotech (NYSEARCA:XBI) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 13,548 shares of the exchange traded fund’s stock, valued at approximately $1,150,000.

A number of other hedge funds and other institutional investors have also modified their holdings of XBI. Raymond James Financial Services Advisors Inc. boosted its stake in shares of SPDR S&P Biotech by 13.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 240,709 shares of the exchange traded fund’s stock valued at $18,578,000 after purchasing an additional 29,346 shares during the period. JW Asset Management LLC boosted its stake in shares of SPDR S&P Biotech by 133.3% during the third quarter. JW Asset Management LLC now owns 70,000 shares of the exchange traded fund’s stock valued at $6,060,000 after purchasing an additional 40,000 shares during the period. IFP Advisors Inc boosted its stake in shares of SPDR S&P Biotech by 18.3% during the third quarter. IFP Advisors Inc now owns 12,081 shares of the exchange traded fund’s stock valued at $1,046,000 after purchasing an additional 1,868 shares during the period. WealthPLAN Partners LLC boosted its stake in shares of SPDR S&P Biotech by 1,107.2% during the second quarter. WealthPLAN Partners LLC now owns 10,527 shares of the exchange traded fund’s stock valued at $812,000 after purchasing an additional 9,655 shares during the period. Finally, Meridian Wealth Management LLC boosted its stake in shares of SPDR S&P Biotech by 25.4% during the third quarter. Meridian Wealth Management LLC now owns 7,028 shares of the exchange traded fund’s stock valued at $608,000 after purchasing an additional 1,425 shares during the period.

SPDR S&P Biotech (NYSEARCA:XBI) traded up $0.49 during trading hours on Friday, hitting $89.63. The stock had a trading volume of 991,535 shares. The stock has a market capitalization of $4,710.00 and a price-to-earnings ratio of 4.92. SPDR S&P Biotech has a 52-week low of $61.14 and a 52-week high of $89.91.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Monday, December 18th were paid a dividend of $0.0347 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Friday, December 15th. SPDR S&P Biotech’s dividend payout ratio (DPR) is presently 1.10%.

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About SPDR S&P Biotech

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.

Want to see what other hedge funds are holding XBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR S&P Biotech (NYSEARCA:XBI).

Institutional Ownership by Quarter for SPDR S&P Biotech (NYSEARCA:XBI)

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