Materials Select Sector SPDR Fund Target of Unusually Large Options Trading (NYSEARCA:XLB)

Materials Select Sector SPDR Fund (NYSEARCA:XLB) saw some unusual options trading on Friday. Investors acquired 247,446 put options on the stock. This represents an increase of 450% compared to the average volume of 44,979 put options.

Materials Select Sector SPDR Fund Trading Down 1.0%

NYSEARCA:XLB opened at $49.19 on Friday. The firm has a market cap of $6.11 billion, a P/E ratio of 24.55 and a beta of 1.03. The stock’s 50 day simple moving average is $50.62 and its 200-day simple moving average is $46.69. Materials Select Sector SPDR Fund has a 12-month low of $36.56 and a 12-month high of $54.14.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of XLB. AQR Capital Management LLC increased its stake in Materials Select Sector SPDR Fund by 27.3% in the 1st quarter. AQR Capital Management LLC now owns 5,234 shares of the exchange traded fund’s stock valued at $450,000 after buying an additional 1,123 shares during the period. Empowered Funds LLC acquired a new stake in shares of Materials Select Sector SPDR Fund in the 1st quarter worth $1,217,000. Nwam LLC lifted its stake in shares of Materials Select Sector SPDR Fund by 18.8% in the 2nd quarter. Nwam LLC now owns 3,521 shares of the exchange traded fund’s stock worth $313,000 after acquiring an additional 558 shares during the period. Intrua Financial LLC purchased a new stake in shares of Materials Select Sector SPDR Fund in the second quarter valued at about $702,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Materials Select Sector SPDR Fund by 107.0% in the second quarter. SG Americas Securities LLC now owns 76,261 shares of the exchange traded fund’s stock valued at $6,696,000 after acquiring an additional 1,167,514 shares in the last quarter. 75.78% of the stock is currently owned by hedge funds and other institutional investors.

Materials Select Sector SPDR Fund Company Profile

Materials Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Materials Select Sector Index (the Index). The Index includes companies involved in such industries as chemicals; metals and mining; paper and forest products; containers and packaging, and construction materials. The Fund’s investment advisor is SSgA Funds Management, Inc