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

SPDR S&P Biotech ETF (NYSEARCA:XBI) was the recipient of some unusual options trading activity on Wednesday. Investors bought 46,408 put options on the stock. This is an increase of 29% compared to the average daily volume of 35,947 put options.

SPDR S&P Biotech ETF Trading Down 1.7%

Shares of XBI traded down $2.80 during mid-day trading on Wednesday, reaching $161.07. 6,400,219 shares of the stock traded hands, compared to its average volume of 9,354,896. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 11.47 and a beta of 0.82. SPDR S&P Biotech ETF has a 1 year low of $84.39 and a 1 year high of $164.35. The firm has a fifty day moving average price of $138.55 and a 200 day moving average price of $130.59.

Hedge Funds Weigh In On SPDR S&P Biotech ETF

A number of institutional investors have recently added to or reduced their stakes in XBI. Wealth Management Partners LLC purchased a new position in SPDR S&P Biotech ETF in the 1st quarter worth approximately $547,000. Banque Pictet & Cie SA raised its position in shares of SPDR S&P Biotech ETF by 24.1% during the 4th quarter. Banque Pictet & Cie SA now owns 64,877 shares of the exchange traded fund’s stock valued at $7,910,000 after buying an additional 12,595 shares in the last quarter. Apella Capital LLC purchased a new stake in shares of SPDR S&P Biotech ETF during the 4th quarter valued at $490,000. Keystone Investors PTE Ltd. bought a new stake in shares of SPDR S&P Biotech ETF during the 4th quarter worth $12,022,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SPDR S&P Biotech ETF by 106.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,570 shares of the exchange traded fund’s stock worth $3,240,000 after acquiring an additional 13,729 shares during 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. The Biotech Index is a modified equal weight index.