Financial Select Sector SPDR Fund Target of Unusually Large Options Trading (NYSEARCA:XLF)

Financial Select Sector SPDR Fund (NYSEARCA:XLF) was the target of some unusual options trading on Thursday. Investors bought 400,491 call options on the stock. This is an increase of approximately 75% compared to the average daily volume of 228,957 call options.

Institutional Trading of Financial Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently made changes to their positions in XLF. SMART Wealth LLC increased its stake in Financial Select Sector SPDR Fund by 86.2% during the 3rd quarter. SMART Wealth LLC now owns 48,151 shares of the exchange traded fund’s stock valued at $2,182,000 after purchasing an additional 22,290 shares in the last quarter. SPX Gestao de Recursos Ltda grew its holdings in shares of Financial Select Sector SPDR Fund by 17.3% during the third quarter. SPX Gestao de Recursos Ltda now owns 344,320 shares of the exchange traded fund’s stock valued at $15,605,000 after buying an additional 50,813 shares during the last quarter. Garden State Investment Advisory Services LLC increased its position in shares of Financial Select Sector SPDR Fund by 238.8% during the third quarter. Garden State Investment Advisory Services LLC now owns 28,760 shares of the exchange traded fund’s stock valued at $1,304,000 after acquiring an additional 20,272 shares in the last quarter. Beaird Harris Wealth Management LLC raised its holdings in Financial Select Sector SPDR Fund by 400.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 20,332 shares of the exchange traded fund’s stock worth $921,000 after acquiring an additional 16,269 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Financial Select Sector SPDR Fund by 84.6% in the 3rd quarter. Franklin Resources Inc. now owns 77,018 shares of the exchange traded fund’s stock worth $3,604,000 after acquiring an additional 35,296 shares during the last quarter.

Financial Select Sector SPDR Fund Price Performance

NYSEARCA:XLF opened at $47.80 on Friday. The firm has a market capitalization of $44.56 billion, a P/E ratio of 18.32 and a beta of 0.83. Financial Select Sector SPDR Fund has a one year low of $36.90 and a one year high of $51.62. The company’s 50-day simple moving average is $48.86 and its 200 day simple moving average is $45.20.

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.