Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Sees Unusually High Put Option Buying

Technology Select Sector SPDR Fund (NYSEARCA:XLK) was the target of some unusual options trading activity on Friday. Stock traders acquired 177,959 put options on the stock. This represents an increase of approximately 490% compared to the typical volume of 30,154 put options.

Technology Select Sector SPDR Fund Trading Up 1.4%

XLK stock traded up $2.28 during trading on Friday, reaching $164.66. 9,392,119 shares of the stock were exchanged, compared to its average volume of 12,985,483. Technology Select Sector SPDR Fund has a twelve month low of $126.68 and a twelve month high of $203.25. The company has a market capitalization of $108.82 billion, a P/E ratio of 35.59 and a beta of 1.36. The stock has a 50 day simple moving average of $188.92 and a 200-day simple moving average of $169.91.

Institutional Trading of Technology Select Sector SPDR Fund

Several institutional investors have recently modified their holdings of XLK. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Technology Select Sector SPDR Fund during the 1st quarter valued at approximately $212,640,000. Factory Mutual Insurance Co. acquired a new position in shares of Technology Select Sector SPDR Fund in the 3rd quarter worth approximately $183,418,000. Royal Bank of Canada lifted its position in shares of Technology Select Sector SPDR Fund by 12.9% in the 1st quarter. Royal Bank of Canada now owns 5,951,587 shares of the exchange traded fund’s stock worth $790,966,000 after purchasing an additional 681,227 shares during the period. Bank of Nova Scotia lifted its position in shares of Technology Select Sector SPDR Fund by 1,121.4% in the 2nd quarter. Bank of Nova Scotia now owns 715,360 shares of the exchange traded fund’s stock worth $136,290,000 after purchasing an additional 656,790 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Technology Select Sector SPDR Fund in the 3rd quarter valued at $93,280,000.

About Technology Select Sector SPDR Fund

The Technology Select Sector SPDR Fund is an exchange-traded fund that aims to track, before fees and expenses, the performance of the Technology Select Sector Index. The index is designed to represent the technology companies within the S&P 500 and provides concentrated exposure to industries such as software, semiconductors, IT services, communications equipment, and technology hardware.