Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Price Up 1.1% – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was up 1.1% on Friday . The stock traded as high as $118.16 and last traded at $118.05. Approximately 7,131,055 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 7,356,651 shares. The stock had previously closed at $116.72.

Communication Services Select Sector SPDR Fund Stock Up 1.1%

The stock has a market capitalization of $27.48 billion, a PE ratio of 19.19 and a beta of 1.02. The company has a 50-day moving average of $116.79 and a 200 day moving average of $115.37.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

Hedge funds have recently modified their holdings of the business. Compass Capital Management Inc. acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the 3rd quarter worth approximately $414,000. Tidal Investments LLC lifted its holdings in Communication Services Select Sector SPDR Fund by 156.7% in the second quarter. Tidal Investments LLC now owns 24,443 shares of the company’s stock valued at $2,653,000 after acquiring an additional 14,921 shares during the last quarter. Two Sigma Securities LLC purchased a new position in Communication Services Select Sector SPDR Fund in the second quarter worth approximately $2,792,000. Blue Chip Partners LLC increased its stake in Communication Services Select Sector SPDR Fund by 21.5% during the second quarter. Blue Chip Partners LLC now owns 6,229 shares of the company’s stock worth $676,000 after acquiring an additional 1,104 shares during the last quarter. Finally, Florida Financial Advisors LLC increased its position in shares of Communication Services Select Sector SPDR Fund by 56.5% during the 2nd quarter. Florida Financial Advisors LLC now owns 17,183 shares of the company’s stock worth $1,865,000 after purchasing an additional 6,204 shares during the last quarter.

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.