Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Shares Gap Down to $80.84

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares gapped down before the market opened on Thursday . The stock had previously closed at $80.84, but opened at $76.64. Communication Services Select Sector SPDR Fund shares last traded at $77.64, with a volume of 3,942,525 shares trading hands.

Communication Services Select Sector SPDR Fund Price Performance

The stock has a fifty day moving average price of $80.48 and a two-hundred day moving average price of $74.62. The company has a market cap of $17.38 billion, a P/E ratio of 30.32 and a beta of 1.20.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Communication Services Select Sector SPDR Fund by 61.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,302,412 shares of the company’s stock worth $150,969,000 after buying an additional 874,800 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Communication Services Select Sector SPDR Fund by 12.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,192,015 shares of the company’s stock valued at $449,912,000 after purchasing an additional 695,233 shares during the period. Ameriprise Financial Inc. raised its stake in Communication Services Select Sector SPDR Fund by 25.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,976,181 shares of the company’s stock valued at $195,017,000 after purchasing an additional 596,662 shares during the period. Annex Advisory Services LLC acquired a new stake in Communication Services Select Sector SPDR Fund during the 4th quarter valued at $39,389,000. Finally, Donaldson Capital Management LLC acquired a new stake in Communication Services Select Sector SPDR Fund during the 1st quarter valued at $40,479,000.

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.