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

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

Communication Services Select Sector SPDR Fund Trading Down 0.2 %

The stock has a market capitalization of $22.26 billion, a P/E ratio of 29.67 and a beta of 1.15. The company’s 50-day moving average is $98.62 and its two-hundred day moving average is $92.20.

Institutional Trading of Communication Services Select Sector SPDR Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MKT Advisors LLC increased its position in shares of Communication Services Select Sector SPDR Fund by 5.8% in the third quarter. MKT Advisors LLC now owns 6,234 shares of the company’s stock worth $562,000 after acquiring an additional 344 shares in the last quarter. Mirador Capital Partners LP raised its stake in Communication Services Select Sector SPDR Fund by 1.0% during the 3rd quarter. Mirador Capital Partners LP now owns 14,825 shares of the company’s stock valued at $1,340,000 after purchasing an additional 150 shares during the last quarter. Apella Capital LLC bought a new stake in Communication Services Select Sector SPDR Fund in the 3rd quarter valued at $210,000. Park Avenue Securities LLC increased its holdings in Communication Services Select Sector SPDR Fund by 103.0% in the 3rd quarter. Park Avenue Securities LLC now owns 61,224 shares of the company’s stock valued at $5,535,000 after buying an additional 31,059 shares during the period. Finally, Centaurus Financial Inc. grew its holdings in shares of Communication Services Select Sector SPDR Fund by 17.3% in the 2nd quarter. Centaurus Financial Inc. now owns 202,933 shares of the company’s stock worth $17,383,000 after purchasing an additional 29,951 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.