SPDR S&P Biotech (XBI) The goal of this exchange traded fund is to replicate the performance of the S&P Biotechnology Select Industry Index. It is passively managed, in that there is no trading in the fund unless there is a change to the underlying index. With close to $500 million in assets, the XBI has an average daily trading volume of nearly 260,000 shares. As for the underlying index, biotechnology is one of the few things working in this horrible economic environment. The drama being played out by Roche and Genentech (DNA) evidences the interest in this all important sector. From a growth perspective the opportunity for growth is significant. As you know I like individual biotech companies, such as Amgen (AMGN) and Gilead Sciences (GLD). I like the ETF as well.
$48.266 (03/24/09)
