Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) Stock Sees Heavy Put Option Buying

Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 53,819 put options on the company. This represents an increase of approximately 58% compared to the average daily volume of 34,067 put options.

Hedge Funds Weigh In On Consumer Staples Select Sector SPDR Fund

Several hedge funds have recently bought and sold shares of XLP. Eastern Bank raised its stake in Consumer Staples Select Sector SPDR Fund by 554.3% during the second quarter. Eastern Bank now owns 301 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 255 shares in the last quarter. Centrica Wealth Management LLC acquired a new stake in Consumer Staples Select Sector SPDR Fund during the 2nd quarter valued at approximately $26,000. Foresight Capital Management Advisors Inc. acquired a new position in shares of Consumer Staples Select Sector SPDR Fund in the 3rd quarter valued at about $26,000. NBH Bank acquired a new stake in shares of Consumer Staples Select Sector SPDR Fund during the 2nd quarter worth approximately $27,000. Finally, MADDEN SECURITIES Corp acquired a new position in shares of Consumer Staples Select Sector SPDR Fund during the third quarter valued at about $28,000.

Consumer Staples Select Sector SPDR Fund Price Performance

NYSEARCA:XLP traded down $0.24 during trading hours on Wednesday, reaching $86.91. 6,799,020 shares of the stock were exchanged, compared to its average volume of 14,707,468. The firm has a 50 day moving average of $84.47 and a 200 day moving average of $84.31. Consumer Staples Select Sector SPDR Fund has a twelve month low of $75.16 and a twelve month high of $90.14. The stock has a market cap of $14.59 billion, a PE ratio of 20.82 and a beta of 0.47.

About Consumer Staples Select Sector SPDR Fund

Consumer Staples Select Sector SPDR Fund (the Fund) seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in The Consumer Staples Select Sector Index (the Index).The Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. Under normal market conditions, the Fund generally invests substantially all, but at least 95%, of its total assets in the securities consisting of the Index.