Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 12-Month High – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $103.68 and last traded at $103.52, with a volume of 5543019 shares. The stock had previously closed at $102.60.

Communication Services Select Sector SPDR Fund Stock Up 0.9 %

The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15. The stock’s fifty day moving average is $99.05 and its 200-day moving average is $92.71.

Institutional Trading of Communication Services Select Sector SPDR Fund

Large investors have recently made changes to their positions in the company. State Street Corp grew its stake in 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 acquiring an additional 1,709,028 shares during the period. Maven Securities LTD grew its position in shares of Communication Services Select Sector SPDR Fund by 104.1% in the 3rd 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 period. CHURCHILL MANAGEMENT Corp increased its stake in Communication Services Select Sector SPDR Fund by 29.8% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 4,083,333 shares of the company’s stock worth $395,307,000 after purchasing an additional 936,637 shares in the last quarter. Meitav Investment House Ltd. raised its holdings in Communication Services Select Sector SPDR Fund by 59.1% during the 4th quarter. Meitav Investment House Ltd. now owns 1,381,352 shares of the company’s stock worth $133,664,000 after buying an additional 512,946 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in Communication Services Select Sector SPDR Fund by 1,083.2% in 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 in 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.