SPDR S&P Biotech ETF Target of Unusually Large Options Trading (NYSEARCA:XBI)

SPDR S&P Biotech ETF (NYSEARCA:XBI) was the target of some unusual options trading on Wednesday. Stock traders bought 46,408 put options on the company. This is an increase of approximately 29% compared to the average volume of 35,947 put options.

SPDR S&P Biotech ETF Price Performance

XBI stock traded down $2.80 during mid-day trading on Wednesday, hitting $161.07. 6,400,219 shares of the stock were exchanged, compared to its average volume of 9,354,896. The business has a fifty day moving average price of $138.55 and a 200 day moving average price of $130.59. SPDR S&P Biotech ETF has a 12 month low of $84.39 and a 12 month high of $164.35. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 11.47 and a beta of 0.82.

Institutional Trading of SPDR S&P Biotech ETF

A number of hedge funds have recently bought and sold shares of the company. Avoro Capital Advisors LLC bought a new stake in shares of SPDR S&P Biotech ETF in the 4th quarter worth approximately $256,053,000. Bank of America Corp DE grew its holdings in shares of SPDR S&P Biotech ETF by 13.3% during the 1st quarter. Bank of America Corp DE now owns 14,518,027 shares of the exchange traded fund’s stock valued at $1,854,388,000 after purchasing an additional 1,700,851 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of SPDR S&P Biotech ETF by 75.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,566,265 shares of the exchange traded fund’s stock valued at $434,835,000 after purchasing an additional 1,536,122 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in SPDR S&P Biotech ETF by 42,425.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 1,190,707 shares of the exchange traded fund’s stock worth $145,147,000 after purchasing an additional 1,187,907 shares during the period. Finally, Morgan Stanley raised its position in SPDR S&P Biotech ETF by 8.3% in the 4th quarter. Morgan Stanley now owns 11,491,683 shares of the exchange traded fund’s stock worth $1,401,181,000 after purchasing an additional 882,718 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.