Traders Purchase High Volume of SPDR S&P Biotech ETF Put Options (NYSEARCA:XBI)

SPDR S&P Biotech ETF (NYSEARCA:XBI) was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 71,998 put options on the stock. This is an increase of approximately 37% compared to the average daily volume of 52,743 put options.

SPDR S&P Biotech ETF Stock Performance

NYSEARCA XBI opened at $118.46 on Wednesday. SPDR S&P Biotech ETF has a 52 week low of $66.66 and a 52 week high of $123.47. The stock’s 50 day moving average price is $109.84 and its two-hundred day moving average price is $94.95. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 11.47 and a beta of 0.93.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC increased its stake in shares of SPDR S&P Biotech ETF by 37.9% during the second quarter. Prime Capital Investment Advisors LLC now owns 9,939 shares of the exchange traded fund’s stock worth $824,000 after purchasing an additional 2,729 shares during the period. Farther Finance Advisors LLC grew its holdings in SPDR S&P Biotech ETF by 574.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,082 shares of the exchange traded fund’s stock valued at $587,000 after buying an additional 6,032 shares in the last quarter. Investment Partners Asset Management Inc. grew its holdings in SPDR S&P Biotech ETF by 4.0% in the 2nd quarter. Investment Partners Asset Management Inc. now owns 3,257 shares of the exchange traded fund’s stock valued at $270,000 after buying an additional 125 shares in the last quarter. RFG Advisory LLC bought a new position in SPDR S&P Biotech ETF during the 2nd quarter worth $208,000. Finally, AlphaCore Capital LLC lifted its holdings in shares of SPDR S&P Biotech ETF by 6,650.0% during the second quarter. AlphaCore Capital LLC now owns 540 shares of the exchange traded fund’s stock worth $45,000 after buying an additional 532 shares in the last quarter.

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.