Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 1-Year High – Here’s What Happened

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $97.82 and last traded at $97.82, with a volume of 165228 shares traded. The stock had previously closed at $96.88.

Communication Services Select Sector SPDR Fund Stock Up 0.2 %

The firm has a market cap of $21.24 billion, a P/E ratio of 29.67 and a beta of 1.15. The firm has a fifty day moving average of $92.01 and a 200-day moving average of $87.40.

Institutional Trading of Communication Services Select Sector SPDR Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of Communication Services Select Sector SPDR Fund by 226.8% in the third quarter. State Street Corp now owns 2,462,512 shares of the company’s stock valued at $222,611,000 after purchasing an additional 1,709,028 shares during the last quarter. Maven Securities LTD grew its position in shares of Communication Services Select Sector SPDR Fund by 104.1% in the third quarter. Maven Securities LTD now owns 50,512 shares of the company’s stock valued at $4,566,000 after purchasing an additional 1,276,272 shares during the last quarter. Granite Bay Wealth Management LLC grew its position in shares of Communication Services Select Sector SPDR Fund by 4,632.2% in the second quarter. Granite Bay Wealth Management LLC now owns 372,708 shares of the company’s stock valued at $30,471,000 after purchasing an additional 364,832 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Communication Services Select Sector SPDR Fund by 9.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,770,938 shares of the company’s stock valued at $323,020,000 after purchasing an additional 325,617 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its position in shares of Communication Services Select Sector SPDR Fund by 104.9% in the second quarter. Foundations Investment Advisors LLC now owns 568,136 shares of the company’s stock valued at $48,666,000 after purchasing an additional 290,856 shares during the last quarter.

About Communication Services Select Sector SPDR Fund

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.