Investors Purchase High Volume of Call Options on Financial Select Sector SPDR Fund (NYSEARCA:XLF)

Financial Select Sector SPDR Fund (NYSEARCA:XLF) saw unusually large options trading activity on Wednesday. Traders purchased 211,571 call options on the company. This is an increase of 48% compared to the average daily volume of 142,691 call options.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

A number of institutional investors have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its position in Financial Select Sector SPDR Fund by 585,941.9% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 228,614,958 shares of the exchange traded fund’s stock worth $11,972,565,000 after buying an additional 228,575,948 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Financial Select Sector SPDR Fund by 37.7% during the 1st quarter. JPMorgan Chase & Co. now owns 150,005,730 shares of the exchange traded fund’s stock worth $7,471,814,000 after purchasing an additional 41,056,810 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Financial Select Sector SPDR Fund by 2,215.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 48,726,146 shares of the exchange traded fund’s stock worth $2,427,049,000 after purchasing an additional 46,621,720 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Financial Select Sector SPDR Fund by 4.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 23,160,119 shares of the exchange traded fund’s stock worth $1,153,606,000 after purchasing an additional 953,091 shares during the period. Finally, LPL Financial LLC grew its stake in shares of Financial Select Sector SPDR Fund by 11.1% during the 1st quarter. LPL Financial LLC now owns 21,067,825 shares of the exchange traded fund’s stock worth $1,049,388,000 after purchasing an additional 2,102,141 shares during the period. 72.51% of the stock is owned by hedge funds and other institutional investors.

Financial Select Sector SPDR Fund Trading Down 0.3%

XLF opened at $53.16 on Thursday. Financial Select Sector SPDR Fund has a 12-month low of $42.21 and a 12-month high of $54.25. The firm has a market capitalization of $53.26 billion, a PE ratio of 18.25 and a beta of 1.07. The firm has a 50 day moving average of $52.77 and a two-hundred day moving average of $50.64.

About Financial Select Sector SPDR Fund

The Fund seeks to provide investors with a low-cost passive approach for investing in a portfolio of equity securities of firms as represented by the Financial Select Sector Index.