Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Trading Up 1% – Here’s What Happened

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares shot up 1% during mid-day trading on Wednesday . The company traded as high as $99.81 and last traded at $99.25. 5,381,445 shares were traded during trading, an increase of 10% from the average session volume of 4,901,725 shares. The stock had previously closed at $98.27.

Communication Services Select Sector SPDR Fund Price Performance

The company has a fifty day moving average price of $98.19 and a 200 day moving average price of $91.72. The company has a market cap of $21.72 billion, a PE ratio of 29.67 and a beta of 1.15.

Institutional Trading of Communication Services Select Sector SPDR Fund

A number of hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Communication Services Select Sector SPDR Fund by 71.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,900 shares of the company’s stock valued at $934,000 after purchasing an additional 4,534 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Communication Services Select Sector SPDR Fund by 38.0% in the second quarter. NewEdge Advisors LLC now owns 153,234 shares of the company’s stock worth $13,126,000 after buying an additional 42,162 shares during the period. Creative Planning increased its holdings in shares of Communication Services Select Sector SPDR Fund by 6.9% in the second quarter. Creative Planning now owns 33,403 shares of the company’s stock worth $2,861,000 after buying an additional 2,142 shares during the period. Magnolia Capital Advisors LLC boosted its holdings in Communication Services Select Sector SPDR Fund by 23.1% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 8,113 shares of the company’s stock valued at $695,000 after acquiring an additional 1,523 shares during the period. Finally, Full Sail Capital LLC boosted its holdings in Communication Services Select Sector SPDR Fund by 11.9% during the 2nd quarter. Full Sail Capital LLC now owns 211,083 shares of the company’s stock valued at $18,081,000 after acquiring an additional 22,448 shares during the period.

Communication Services Select Sector SPDR Fund Company Profile

The Communication Services Select Sector SPDR Fund (XLC) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of US telecommunication and media & entertainment components of the S&P 500 index. XLC was launched on Jun 18, 2018 and is managed by State Street.