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

SPDR S&P Bank ETF (NYSEARCA:KBE) was the recipient of some unusual options trading on Thursday. Investors purchased 15,007 put options on the company. This is an increase of 875% compared to the average volume of 1,539 put options.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Several institutional investors have recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new stake in SPDR S&P Bank ETF in the second quarter worth $45,000. Fifth Third Bancorp raised its stake in SPDR S&P Bank ETF by 9.6% in the second quarter. Fifth Third Bancorp now owns 2,520 shares of the exchange traded fund’s stock worth $117,000 after buying an additional 220 shares in the last quarter. Clear Street Markets LLC bought a new stake in SPDR S&P Bank ETF during the 4th quarter valued at approximately $129,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of SPDR S&P Bank ETF during the 2nd quarter worth approximately $134,000. Finally, Centaurus Financial Inc. bought a new position in shares of SPDR S&P Bank ETF in the 4th quarter worth approximately $141,000.

SPDR S&P Bank ETF Stock Performance

Shares of KBE stock opened at $52.04 on Friday. The company has a market capitalization of $1.53 billion, a P/E ratio of 7.86 and a beta of 1.42. SPDR S&P Bank ETF has a fifty-two week low of $33.97 and a fifty-two week high of $55.04. The stock has a 50 day moving average price of $51.30 and a two-hundred day moving average price of $47.50.

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.