Stock Traders Purchase High Volume of Put Options on SPDR S&P Bank ETF (NYSEARCA:KBE)

SPDR S&P Bank ETF (NYSEARCA:KBE) was the target of some unusual options trading activity on Wednesday. Traders bought 60,144 put options on the company. This is an increase of approximately 27,238% compared to the average volume of 220 put options.

SPDR S&P Bank ETF Trading Down 1.1%

Shares of KBE traded down $0.70 during mid-day trading on Wednesday, hitting $62.24. The company’s stock had a trading volume of 2,402,295 shares, compared to its average volume of 1,971,084. The company’s 50-day moving average is $67.30 and its 200-day moving average is $65.98. SPDR S&P Bank ETF has a 52-week low of $54.64 and a 52-week high of $71.92. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.60 and a beta of 0.92.

Hedge Funds Weigh In On SPDR S&P Bank ETF

A number of large investors have recently bought and sold shares of KBE. Baird Financial Group Inc. lifted its stake in SPDR S&P Bank ETF by 1.9% during the 2nd quarter. Baird Financial Group Inc. now owns 17,579 shares of the exchange traded fund’s stock worth $1,199,000 after acquiring an additional 327 shares in the last quarter. Vectors Research Management LLC raised its holdings in SPDR S&P Bank ETF by 3.6% in the first quarter. Vectors Research Management LLC now owns 11,490 shares of the exchange traded fund’s stock valued at $684,000 after acquiring an additional 400 shares in the last quarter. CX Institutional acquired a new stake in SPDR S&P Bank ETF in the third quarter valued at approximately $28,000. Timbuktu Capital Management LLC purchased a new position in SPDR S&P Bank ETF in the second quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC purchased a new position in SPDR S&P Bank ETF in the second quarter worth approximately $44,000.

About SPDR S&P Bank ETF

SPDR KBW Bank ETF, formerly The SPDR S&P Bank ETF (the Fund), seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts. The S&P Banks Select Industry Index consists of common stocks of national money centers and regional banks or thrifts listed on the New York Stock Exchange (NYSE) or another United States national securities exchange, (NASDAQ)/National Market System (NMS).