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

SPDR S&P Biotech ETF (NYSEARCA:XBI) saw some unusual options trading activity on Wednesday. Investors purchased 71,998 put options on the company. This represents an increase of approximately 37% compared to the average daily volume of 52,743 put options.

SPDR S&P Biotech ETF Stock Up 1.2%

NYSEARCA:XBI opened at $123.25 on Friday. The stock’s fifty day simple moving average is $110.87 and its 200-day simple moving average is $95.34. The firm has a market capitalization of $7.48 billion, a P/E ratio of 11.47 and a beta of 0.93. SPDR S&P Biotech ETF has a 12-month low of $66.66 and a 12-month high of $123.61.

Institutional Investors Weigh In On SPDR S&P Biotech ETF

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in SPDR S&P Biotech ETF by 625.1% in the 1st quarter. JPMorgan Chase & Co. now owns 10,369,706 shares of the exchange traded fund’s stock valued at $840,983,000 after buying an additional 12,344,558 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SPDR S&P Biotech ETF by 33.0% during the first quarter. Goldman Sachs Group Inc. now owns 13,524,858 shares of the exchange traded fund’s stock worth $1,096,866,000 after purchasing an additional 3,353,029 shares during the period. Simplex Trading LLC lifted its holdings in SPDR S&P Biotech ETF by 116.1% during the 1st quarter. Simplex Trading LLC now owns 241,039 shares of the exchange traded fund’s stock worth $19,548,000 after purchasing an additional 1,741,445 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. bought a new stake in SPDR S&P Biotech ETF in the 3rd quarter valued at $55,613,000. Finally, Ameriprise Financial Inc. grew its holdings in SPDR S&P Biotech ETF by 123.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 872,796 shares of the exchange traded fund’s stock valued at $72,542,000 after buying an additional 481,408 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.