SPDR S&P Bank ETF Sees Unusually Large Options Volume (NYSEARCA:KBE)

SPDR S&P Bank ETF (NYSEARCA:KBE) was the recipient of some unusual options trading activity on Monday. Traders acquired 44,136 put options on the stock. This represents an increase of 1,512% compared to the average daily volume of 2,738 put options.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Several large investors have recently made changes to their positions in the business. Citigroup Inc. boosted its stake in shares of SPDR S&P Bank ETF by 372.7% in the third quarter. Citigroup Inc. now owns 1,339,899 shares of the exchange traded fund’s stock valued at $70,867,000 after purchasing an additional 1,056,448 shares during the period. Janney Capital Management LLC purchased a new position in SPDR S&P Bank ETF in the 3rd quarter valued at about $19,805,000. Baker Avenue Asset Management LP acquired a new stake in shares of SPDR S&P Bank ETF during the third quarter valued at about $2,822,000. Alaska Permanent Fund Corp increased its position in shares of SPDR S&P Bank ETF by 45.7% during the third quarter. Alaska Permanent Fund Corp now owns 153,000 shares of the exchange traded fund’s stock worth $8,092,000 after acquiring an additional 48,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of SPDR S&P Bank ETF by 92.7% in the second quarter. Envestnet Asset Management Inc. now owns 91,488 shares of the exchange traded fund’s stock worth $4,244,000 after acquiring an additional 44,020 shares in the last quarter.

SPDR S&P Bank ETF Price Performance

Shares of KBE stock opened at $58.17 on Wednesday. SPDR S&P Bank ETF has a 1-year low of $42.13 and a 1-year high of $63.74. The firm’s 50-day simple moving average is $57.97 and its 200-day simple moving average is $52.67. The firm has a market cap of $1.71 billion, a P/E ratio of 7.86 and a beta of 1.42.

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.