Investors Buy Large Volume of SPDR S&P Biotech ETF Put Options (NYSEARCA:XBI)

SPDR S&P Biotech ETF (NYSEARCA:XBI) was the recipient of unusually large options trading on Wednesday. Stock investors bought 148,898 put options on the company. This is an increase of 204% compared to the average volume of 48,910 put options.

SPDR S&P Biotech ETF Price Performance

SPDR S&P Biotech ETF stock traded up $1.36 during mid-day trading on Wednesday, reaching $125.99. The stock had a trading volume of 2,319,666 shares, compared to its average volume of 9,278,318. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 11.47 and a beta of 0.93. SPDR S&P Biotech ETF has a one year low of $66.66 and a one year high of $132.09. The company has a 50-day moving average price of $124.47 and a two-hundred day moving average price of $110.60.

Institutional Trading of SPDR S&P Biotech ETF

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in SPDR S&P Biotech ETF by 27.3% in the third quarter. JPMorgan Chase & Co. now owns 13,538,738 shares of the exchange traded fund’s stock worth $1,356,582,000 after buying an additional 2,900,633 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in SPDR S&P Biotech ETF during the 4th quarter valued at about $256,053,000. Wells Fargo & Company MN boosted its position in shares of SPDR S&P Biotech ETF by 75.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,566,265 shares of the exchange traded fund’s stock valued at $434,835,000 after buying an additional 1,536,122 shares during the period. OMERS ADMINISTRATION Corp grew its stake in shares of SPDR S&P Biotech ETF by 42,425.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,190,707 shares of the exchange traded fund’s stock valued at $145,147,000 after buying an additional 1,187,907 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of SPDR S&P Biotech ETF by 8.3% in the fourth quarter. Morgan Stanley now owns 11,491,683 shares of the exchange traded fund’s stock worth $1,401,181,000 after buying an additional 882,718 shares during the period.

SPDR S&P Biotech ETF Company Profile

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.