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 recipient of unusually large options trading on Friday. Stock traders purchased 5,030 put options on the company. This is an increase of 93% compared to the average volume of 2,611 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KBE. US Bancorp DE boosted its position in shares of SPDR S&P Bank ETF by 678.9% in the 3rd quarter. US Bancorp DE now owns 740 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 645 shares during the period. Janney Montgomery Scott LLC acquired a new stake in SPDR S&P Bank ETF during the 3rd quarter worth about $925,000. Vectors Research Management LLC acquired a new stake in SPDR S&P Bank ETF during the 3rd quarter worth about $217,000. MAI Capital Management boosted its position in SPDR S&P Bank ETF by 36.7% during the 3rd quarter. MAI Capital Management now owns 14,225 shares of the exchange traded fund’s stock worth $752,000 after acquiring an additional 3,821 shares during the period. Finally, Prospera Financial Services Inc acquired a new stake in SPDR S&P Bank ETF during the 3rd quarter worth about $1,207,000.

SPDR S&P Bank ETF Trading Up 2.6 %

NYSEARCA:KBE traded up $1.34 during mid-day trading on Friday, reaching $52.63. 2,134,513 shares of the stock were exchanged, compared to its average volume of 1,963,108. The business has a fifty day moving average price of $56.76 and a 200 day moving average price of $56.17. The firm has a market capitalization of $2.49 billion, a PE ratio of 13.73 and a beta of 1.15. SPDR S&P Bank ETF has a 1-year low of $42.77 and a 1-year high of $63.74.

SPDR S&P Bank ETF Company Profile

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.