Insight into XBI's Biotechnology Subgroup for Week of September 11
(Continued from Prior Part)
XBI’s biotechnology stocks above moving averages
The biotechnology subgroup of the SPDR S&P Biotechnology ETF (XBI) has 69 biotech stocks in its portfolio. As of September 11, 2015, 78.26% of the stocks were trading above 20-day moving averages, 31.88% of the stocks were trading above 50-day moving averages, and 41.94% of the stocks were trading above 100-day moving averages. There was a drastic rise in all moving averages compared to the week ended September 4, 2015, when only 22.58% of the stocks were trading above 20-day moving averages, 11.29% of the stocks were trading above 50-day moving averages, and 14.52% of the stocks were trading above 100-day moving averages.
The above graph reflects the percentage of stocks trading above 20-, 50-, and 100-day moving averages on a week-over-week basis. As of September 11, 2015, 54 stocks were trading above 20-day moving averages, 22 stocks were trading above 50-day moving averages, and 26 stocks were trading above 100-day moving averages. In the week ended September 4, 2015, the numbers stood at 14, seven, and nine stocks, respectively.
BioMarin and Celgene again traded above 100-day moving averages
BioMarin Pharmaceuticals (BMRN) rose 5.09% for the week ended September 11, 2015. The stock rose on good trading volumes and bounced back from the recent falling trend. The stock closed at $132.88 on September 11, 2015, trading above the 100-day moving average. However, the stock is still trading below its 50-day moving average.
Similarly, Celgene (CELG) rose 5.37% to return to trading above its 100-day moving average. BMRN has a weight of 1.11%, and CELG has a weight of 1.09% in XBI.
Vertex (VRTX) rose 5.95%. VRTX recently presented at the Morgan Stanley Healthcare Conference in New York. The stock closed at $134.06 and was trading above 20-, 50-, and 100-day moving averages. The stock has followed the market trend. VRTX has a weight of 1.01% in XBI. The other stock that rose above its 100-day moving average was Regeneron (REGN). The stock rose 4.88% and has a weight of 1.04% in XBI.
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