Stock Traders Purchase Large Volume of Put Options on Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the target of some unusual options trading activity on Wednesday. Investors acquired 20,413 put options on the company. This is an increase of 207% compared to the average volume of 6,654 put options.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Communication Services Select Sector SPDR Fund by 0.3% in the fourth quarter. Bank of America Corp DE now owns 44,904,254 shares of the company’s stock valued at $5,286,129,000 after purchasing an additional 116,961 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Communication Services Select Sector SPDR Fund by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 10,786,035 shares of the company’s stock worth $1,276,743,000 after acquiring an additional 657,306 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Communication Services Select Sector SPDR Fund by 3.4% during the fourth quarter. Wells Fargo & Company MN now owns 7,491,358 shares of the company’s stock worth $881,883,000 after acquiring an additional 245,414 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Communication Services Select Sector SPDR Fund by 8.9% during the fourth quarter. Raymond James Financial Inc. now owns 5,768,478 shares of the company’s stock worth $679,065,000 after acquiring an additional 473,363 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Communication Services Select Sector SPDR Fund by 148.3% during the third quarter. Barclays PLC now owns 5,048,892 shares of the company’s stock worth $597,637,000 after acquiring an additional 3,015,840 shares in the last quarter.

Communication Services Select Sector SPDR Fund Stock Performance

XLC traded up $2.32 on Wednesday, reaching $114.14. The company had a trading volume of 2,073,320 shares, compared to its average volume of 7,842,181. The business has a 50 day simple moving average of $115.03 and a 200 day simple moving average of $115.44. The company has a market cap of $24.69 billion, a price-to-earnings ratio of 19.19 and a beta of 1.03. Communication Services Select Sector SPDR Fund has a 52-week low of $84.96 and a 52-week high of $120.40.

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.