SPDR S&P Biotech ETF (NYSEARCA:XBI) Stock Sees Heavy Put Option Buying

SPDR S&P Biotech ETF (NYSEARCA:XBI) saw unusually large options trading activity on Friday. Traders purchased 57,114 put options on the company. This is an increase of approximately 43% compared to the average volume of 40,006 put options.

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Management Partners LLC acquired a new position in shares of SPDR S&P Biotech ETF in the first quarter valued at about $547,000. Ayalon Insurance Comp Ltd. raised its position in SPDR S&P Biotech ETF by 71.9% in the third quarter. Ayalon Insurance Comp Ltd. now owns 95,600 shares of the exchange traded fund’s stock valued at $15,074,000 after purchasing an additional 40,000 shares during the period. Continuum Advisory LLC increased its stake in SPDR S&P Biotech ETF by 389.1% during the second quarter. Continuum Advisory LLC now owns 18,013 shares of the exchange traded fund’s stock worth $2,851,000 after purchasing an additional 14,330 shares during the period. Wellington Management Group LLP purchased a new position in SPDR S&P Biotech ETF in the second quarter worth approximately $19,270,000. Finally, Syon Capital LLC increased its stake in SPDR S&P Biotech ETF by 67.9% in the second quarter. Syon Capital LLC now owns 23,562 shares of the exchange traded fund’s stock valued at $3,729,000 after purchasing an additional 9,530 shares during the last quarter.

SPDR S&P Biotech ETF Stock Down 3.8%

NYSEARCA XBI traded down $5.64 during trading hours on Friday, reaching $144.14. The company’s stock had a trading volume of 9,441,197 shares, compared to its average volume of 9,171,963. SPDR S&P Biotech ETF has a 1 year low of $106.30 and a 1 year high of $169.89. The firm’s 50-day moving average price is $158.35 and its 200-day moving average price is $146.89. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 11.47 and a beta of 0.83.

SPDR S&P Biotech ETF Company Profile

SPDR S&P Biotech ETF (the Fund) seeks to closely match the returns and characteristics of the S&P Biotechnology Select Industry Index. The S&P Biotechnology Select Industry Index represents the biotechnology sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges. The Biotech Index is a modified equal weight index.