ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) Shares Down 1.7% – Time to Sell?

ALPS Medical Breakthroughs ETF (NYSEARCA:SBIO) was down 1.7% during mid-day trading on Monday . The stock traded as low as $37.91 and last traded at $37.92. Approximately 29,943 shares were traded during mid-day trading, an increase of 179% from the average daily volume of 10,717 shares. The stock had previously closed at $38.56.

ALPS Medical Breakthroughs ETF Stock Performance

The stock’s 50 day simple moving average is $38.63 and its 200 day simple moving average is $36.68.

Institutional Trading of ALPS Medical Breakthroughs ETF

Several institutional investors and hedge funds have recently modified their holdings of SBIO. International Assets Investment Management LLC purchased a new stake in ALPS Medical Breakthroughs ETF in the 3rd quarter valued at $61,430,000. Griffin Asset Management Inc. raised its holdings in shares of 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 valued at $1,125,000 after purchasing an additional 7,170 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of ALPS Medical Breakthroughs ETF in the second quarter valued at about $675,000. Jane Street Group LLC purchased a new position in ALPS Medical Breakthroughs ETF during the third quarter worth about $366,000. Finally, Financial Advocates Investment Management grew its position in ALPS Medical Breakthroughs ETF by 5.3% in the 2nd quarter. Financial Advocates Investment Management now owns 7,670 shares of the company’s stock worth $258,000 after purchasing an additional 385 shares in the last quarter.

ALPS Medical Breakthroughs ETF Company Profile

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.