The SPDR S&P Biotech ETF (NYSEArca: XBI), which is an equal-weight ETF, entered Monday with a weight to Cubist Pharmaceuticals of 1.25%. That is enough to have XBI higher by 2.3% on volume that has already eclipsed the trailing three-month daily average. Like FBT, XBI also touched an all-time earlier today.
Up 42.4% year-to-date, XBI is 2014’s second-best sector ETF behind FBT.
First Trust NYSE Arca Biotechnology Index Fund
ETF Trends editorial team contributed to this post.