ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Shares Down 1.5% – Here’s Why

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIOGet Free Report)’s share price dropped 1.5% during mid-day trading on Monday . The company traded as low as $36.28 and last traded at $36.42. Approximately 16,623 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 10,427 shares. The stock had previously closed at $36.98.

ALPS Medical Breakthroughs ETF Stock Performance

The stock’s 50-day moving average price is $38.41 and its 200-day moving average price is $36.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Advocates Investment Management lifted its position in shares of ALPS Medical Breakthroughs ETF by 5.3% in the second quarter. Financial Advocates Investment Management now owns 7,670 shares of the company’s stock valued at $258,000 after acquiring an additional 385 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of ALPS Medical Breakthroughs ETF in the third quarter valued at approximately $366,000. Ridgewood Investments LLC purchased a new position in shares of ALPS Medical Breakthroughs ETF during the second quarter valued at approximately $675,000. Griffin Asset Management Inc. grew its stake in ALPS Medical Breakthroughs ETF by 188.3% in the 2nd quarter. Griffin Asset Management Inc. now owns 22,965 shares of the company’s stock worth $771,000 after acquiring an additional 15,000 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in ALPS Medical Breakthroughs ETF in the third quarter valued at $61,430,000.

ALPS Medical Breakthroughs ETF Company Profile

(Get Free Report)

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.

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