Insiders Bullish on Certain Holdings of XBI

A look at the weighted underlying holdings of the SPDR S&P Biotech ETF (XBI) shows an impressive 13.1% of holdings on a weighted basis have experienced insider buying within the past six months.

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Merrimack Pharmaceuticals Inc. ( MACK), which makes up 2.12% of the SPDR S&P Biotech ETF (XBI), has seen 7 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $21,666,015 worth of MACK, making it the #2 largest holding. The table below details the recent insider buying activity observed at MACK:

MACK — last trade: $8.10 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
11/29/2013 Michael E. Porter Director 75,000 $3.60 $270,185.00
11/29/2013 William M. McClements SVP of Corporate Operations 7,000 $3.61 $25,255.00
11/29/2013 Anthony J. Sinskey Director 3,800 $3.92 $14,877.00
12/03/2013 Michael E. Porter Director 75,000 $4.17 $312,907.50
12/02/2013 William M. McClements SVP of Corporate Operations 2,000 $4.06 $8,119.20
12/03/2013 Sarah E. Nash Director 47,500 $4.17 $198,306.00
12/04/2013 Robert J. Mulroy President and CEO 33,100 $4.42 $146,225.87
12/06/2013 James H. Quigley Director 39,000 $4.70 $183,257.10
12/10/2013 Michael E. Porter Director 18,000 $4.38 $78,840.00
12/12/2013 William M. McClements SVP of Corporate Operations 4,000 $4.26 $17,059.20
12/17/2013 Michael E. Porter Director 25,000 $4.75 $118,811.25
05/05/2014 Michael E. Porter Director 15,000 $6.41 $96,150.00
05/05/2014 Gary L. Crocker Director 10,000 $6.69 $66,900.00
05/05/2014 Robert J. Mulroy President and CEO 5,000 $6.31 $31,550.00
05/06/2014 Gary L. Crocker Director 17,500 $6.89 $120,575.00
05/05/2014 Michael E. Porter Director 5,000 $6.12 $30,600.00
05/07/2014 Gary L. Crocker Director 4,400 $6.77 $29,788.00
05/07/2014 Sarah E. Nash Director 15,000 $6.79 $101,850.00
05/08/2014 Michael E. Porter Director 10,000 $6.59 $65,900.00
05/13/2014 Anthony J. Sinskey Director 5,000 $6.74 $33,700.00
05/16/2014 Michael E. Porter Director 15,000 $6.49 $97,400.00
05/19/2014 Gary L. Crocker Director 9,400 $6.68 $62,802.00
05/19/2014 James H. Quigley Director 5,000 $6.58 $32,900.00
05/20/2014 Gary L. Crocker Director 4,000 $6.69 $26,760.00

And Repligen Corp. ( RGEN), the #5 largest holding among components of the SPDR S&P Biotech ETF (XBI), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $18,712,800 worth of RGEN, which represents approximately 1.83% of the ETF's total assets at last check. The recent insider buying activity observed at RGEN is detailed in the table below:

RGEN — last trade: $19.37 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
04/15/2014 James R. Rusche Senior Vice President 25,000 $3.05 $76,250.00
04/15/2014 Daniel P. Witt Senior Vice President 10,000 $3.05 $30,500.00

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