Financial Select Sector SPDR Fund Sees Unusually High Options Volume (NYSEARCA:XLF)

Financial Select Sector SPDR Fund (NYSEARCA:XLF) saw some unusual options trading activity on Friday. Stock investors purchased 441,925 put options on the company. This is an increase of 152% compared to the typical volume of 175,379 put options.

Financial Select Sector SPDR Fund Stock Performance

XLF stock traded up $0.38 during midday trading on Friday, hitting $57.25. 20,437,908 shares of the stock were exchanged, compared to its average volume of 41,520,883. The stock’s 50-day moving average price is $57.13 and its 200-day moving average price is $53.45. The stock has a market cap of $57.86 billion, a price-to-earnings ratio of 18.25 and a beta of 0.85. Financial Select Sector SPDR Fund has a fifty-two week low of $47.67 and a fifty-two week high of $58.60.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Financial Select Sector SPDR Fund by 22.9% in the fourth quarter. Bank of America Corp DE now owns 80,614,166 shares of the exchange traded fund’s stock valued at $4,415,238,000 after purchasing an additional 15,014,591 shares during the period. PGIM Custom Harvest LLC purchased a new position in Financial Select Sector SPDR Fund during the third quarter worth about $542,917,000. Two Sigma Investments LP lifted its position in Financial Select Sector SPDR Fund by 478.6% during the third quarter. Two Sigma Investments LP now owns 10,814,100 shares of the exchange traded fund’s stock worth $582,556,000 after buying an additional 8,945,030 shares during the period. Cibc World Market Inc. boosted its stake in Financial Select Sector SPDR Fund by 662.0% in the 4th quarter. Cibc World Market Inc. now owns 3,145,684 shares of the exchange traded fund’s stock worth $172,289,000 after buying an additional 3,705,455 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Financial Select Sector SPDR Fund by 20.3% in the 4th quarter. Raymond James Financial Inc. now owns 16,288,590 shares of the exchange traded fund’s stock worth $892,126,000 after buying an additional 2,753,084 shares during the last quarter. 72.51% of the stock is currently owned by hedge funds and other institutional investors.

Financial Select Sector SPDR Fund Company Profile

The Fund seeks to provide investors with a low-cost passive approach for investing in a portfolio of equity securities of firms as represented by the Financial Select Sector Index.