Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 52-Week High – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares hit a new 52-week high on Thursday . The company traded as high as $103.12 and last traded at $102.55, with a volume of 390404 shares trading hands. The stock had previously closed at $101.87.

Communication Services Select Sector SPDR Fund Stock Down 0.2 %

The stock has a market capitalization of $22.26 billion, a PE ratio of 29.67 and a beta of 1.15. The firm’s fifty day moving average is $98.62 and its 200-day moving average is $92.20.

Institutional Trading of Communication Services Select Sector SPDR Fund

Large investors have recently modified their holdings of the business. State Street Corp lifted its stake in shares of Communication Services Select Sector SPDR Fund by 226.8% during the third quarter. State Street Corp now owns 2,462,512 shares of the company’s stock valued at $222,611,000 after buying an additional 1,709,028 shares during the period. Maven Securities LTD lifted its stake in shares of Communication Services Select Sector SPDR Fund by 104.1% during the third quarter. Maven Securities LTD now owns 50,512 shares of the company’s stock valued at $4,566,000 after buying an additional 1,276,272 shares during the period. CHURCHILL MANAGEMENT Corp lifted its stake in shares of Communication Services Select Sector SPDR Fund by 29.8% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 4,083,333 shares of the company’s stock valued at $395,307,000 after buying an additional 936,637 shares during the period. Kingsview Wealth Management LLC lifted its stake in shares of Communication Services Select Sector SPDR Fund by 1,083.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 396,642 shares of the company’s stock valued at $38,399,000 after buying an additional 363,119 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Communication Services Select Sector SPDR Fund during the fourth quarter valued at approximately $22,001,000.

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.