|Bid||47.00 x 1400|
|Ask||48.58 x 900|
|Day's Range||47.27 - 48.34|
|52 Week Range||36.05 - 70.82|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||2.96|
|Expense Ratio (net)||0.95%|
Let's take a sneak peek at some ETFs having high exposure to some impactful biotechnological companies on the release of Q1 earnings results.
Biotech stocks turned lower after news reports on Tuesday afternoon that Food and Drug Administration Commissioner Scott Gottlieb was resigning. The iShares Nasdaq Biotechnology ETF was down 0.3% after being up 0.5% just before the news. The ProShares Ultra Nasdaq Biotechnology ETF fell 0.6%, while the SPDR S&P Biotech ETF fell 0.2% . Biotech and pharmaceutical executives have praised Gottlieb for accelerating the approval of generic drugs and updating the process for FDA evaluation of novel treatments such as gene therapy.
Stocks in the biotech sector pose a problem for a swing trade. We take profits quicker, so we need to avoid big losses. Biotech stocks make that difficult.
All three major biotechnology ETFs—the SPDR S&P Biotech ETF (XBI), the iShares NASDAQ Biotechnology Index (IBB), and the ProShares Ultra Nasdaq Biotechnology ETF (BIB)—have posted returns of ~1% in last month, starting on August 10. That compares unfavorably with the performance of the SPDR S&P 500 ETF (SPY), which returned ~1.7% in the same period.
Biotech funds tacked on $76 million this week, adding to more than $500 million in net inflows over the past two weeks — a phenomenon the group hasn't seen in nine months.