ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Trading Down 1.9% – Should You Sell?

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) was down 1.9% during mid-day trading on Monday . The stock traded as low as $32.84 and last traded at $33.08. Approximately 17,314 shares traded hands during mid-day trading, an increase of 59% from the average daily volume of 10,871 shares. The stock had previously closed at $33.72.

ALPS Medical Breakthroughs ETF Trading Down 1.9 %

The company’s 50-day moving average is $37.66 and its two-hundred day moving average is $36.78.

Hedge Funds Weigh In On ALPS Medical Breakthroughs ETF

A number of hedge funds have recently bought and sold shares of SBIO. Jane Street Group LLC purchased a new position in shares of ALPS Medical Breakthroughs ETF during the third quarter valued at approximately $366,000. Griffin Asset Management Inc. boosted its holdings in ALPS Medical Breakthroughs ETF by 31.2% in the third quarter. Griffin Asset Management Inc. now owns 30,135 shares of the company’s stock worth $1,125,000 after purchasing an additional 7,170 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in ALPS Medical Breakthroughs ETF in the 3rd quarter worth approximately $61,430,000.

About ALPS Medical Breakthroughs ETF

The ALPS Medical Breakthroughs ETF (SBIO) is an exchange-traded fund that is based on the S-Network Medical Breakthroughs index. The fund tracks, a market-cap weighted index comprising US-listed biotech companies with one or more drugs currently in either Phase II or Phase III FDA clinical trials. SBIO was launched on Dec 31, 2014 and is managed by ALPS.