Traders Purchase Large Volume of Put Options on Materials Select Sector SPDR Fund (NYSEARCA:XLB)

Materials Select Sector SPDR Fund (NYSEARCA:XLB) was the target of some unusual options trading activity on Monday. Investors acquired 100,333 put options on the company. This is an increase of 268% compared to the average volume of 27,293 put options.

Materials Select Sector SPDR Fund Stock Performance

Shares of Materials Select Sector SPDR Fund stock opened at $87.66 on Wednesday. Materials Select Sector SPDR Fund has a 52-week low of $73.12 and a 52-week high of $97.87. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 25.54 and a beta of 1.03. The company’s 50 day moving average price is $85.45 and its 200-day moving average price is $85.99.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Large investors have recently modified their holdings of the stock. PCG Asset Management LLC purchased a new position in Materials Select Sector SPDR Fund in the 4th quarter worth about $911,000. Nwam LLC purchased a new position in Materials Select Sector SPDR Fund in the 4th quarter worth about $325,000. Providence First Trust Co purchased a new position in Materials Select Sector SPDR Fund in the 4th quarter worth about $1,459,000. IFP Advisors Inc raised its position in Materials Select Sector SPDR Fund by 2.8% in the 4th quarter. IFP Advisors Inc now owns 7,133 shares of the exchange traded fund’s stock worth $600,000 after buying an additional 192 shares during the last quarter. Finally, New York Life Investment Management LLC raised its position in Materials Select Sector SPDR Fund by 9.9% in the 4th quarter. New York Life Investment Management LLC now owns 96,237 shares of the exchange traded fund’s stock worth $8,097,000 after buying an additional 8,681 shares during the last quarter.

About Materials Select Sector SPDR Fund

Materials Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Materials Select Sector Index (the Index). The Index includes companies involved in such industries as chemicals; metals and mining; paper and forest products; containers and packaging, and construction materials.