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

SPDR S&P Biotech ETF (NYSEARCA:XBI) was the target of unusually large options trading activity on Friday. Investors acquired 57,114 put options on the stock. This represents an increase of approximately 43% compared to the typical volume of 40,006 put options.

SPDR S&P Biotech ETF Trading Down 3.6%

Shares of NYSEARCA XBI traded down $5.46 during midday trading on Friday, reaching $144.32. 11,754,034 shares of the company were exchanged, compared to its average volume of 9,186,571. SPDR S&P Biotech ETF has a 1 year low of $106.30 and a 1 year high of $169.89. The stock has a fifty day simple moving average of $158.09 and a 200 day simple moving average of $146.87. The stock has a market cap of $9.90 billion, a P/E ratio of 11.47 and a beta of 0.83.

Institutional Trading of SPDR S&P Biotech ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Guardian Asset Advisors LLC grew its stake in shares of SPDR S&P Biotech ETF by 34.1% in the 3rd quarter. Guardian Asset Advisors LLC now owns 1,850 shares of the exchange traded fund’s stock valued at $292,000 after purchasing an additional 470 shares during the last quarter. Sweeney & Michel LLC acquired a new position in shares of SPDR S&P Biotech ETF in the third quarter valued at approximately $204,000. TD Waterhouse Canada Inc. raised its stake in shares of SPDR S&P Biotech ETF by 429.0% during the third quarter. TD Waterhouse Canada Inc. now owns 27,853 shares of the exchange traded fund’s stock worth $4,311,000 after purchasing an additional 22,588 shares during the last quarter. Millennium Capital Advisors LLC raised its stake in shares of SPDR S&P Biotech ETF by 4.1% during the third quarter. Millennium Capital Advisors LLC now owns 5,093 shares of the exchange traded fund’s stock worth $803,000 after purchasing an additional 201 shares during the last quarter. Finally, Shelton Wealth Management LLC lifted its holdings in shares of SPDR S&P Biotech ETF by 9.6% during the third quarter. Shelton Wealth Management LLC now owns 10,084 shares of the exchange traded fund’s stock worth $1,590,000 after purchasing an additional 880 shares during the period.

About SPDR S&P Biotech ETF

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.