Investors Buy High Volume of Put Options on Financial Select Sector SPDR Fund (NYSEARCA:XLF)

Financial Select Sector SPDR Fund (NYSEARCA:XLF) saw some unusual options trading activity on Thursday. Investors purchased 236,018 put options on the stock. This represents an increase of approximately 26% compared to the typical daily volume of 187,476 put options.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

Several hedge funds have recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Financial Select Sector SPDR Fund in the third quarter worth approximately $26,000. Rakuten Securities Inc. lifted its stake in shares of Financial Select Sector SPDR Fund by 212.4% in the third quarter. Rakuten Securities Inc. now owns 603 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 410 shares in the last quarter. Transcendent Capital Group LLC lifted its stake in shares of Financial Select Sector SPDR Fund by 4,000.0% in the third quarter. Transcendent Capital Group LLC now owns 615 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 600 shares in the last quarter. Rational Advisors LLC bought a new position in shares of Financial Select Sector SPDR Fund in the third quarter worth approximately $34,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Financial Select Sector SPDR Fund in the third quarter worth approximately $36,000.

Financial Select Sector SPDR Fund Stock Performance

Shares of NYSEARCA XLF traded down $0.60 during midday trading on Thursday, hitting $48.95. 26,366,074 shares of the company traded hands, compared to its average volume of 40,785,727. Financial Select Sector SPDR Fund has a 12-month low of $33.46 and a 12-month high of $49.68. The stock has a 50-day moving average price of $45.90 and a 200 day moving average price of $43.36. The firm has a market cap of $45.63 billion, a P/E ratio of 18.32 and a beta of 0.83.

About Financial Select Sector SPDR Fund

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.