Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 12-Month High – Still a Buy?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) reached a new 52-week high during trading 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 Price Performance

The firm has a market capitalization of $22.41 billion, a PE ratio of 29.67 and a beta of 1.15. The company’s fifty day simple moving average is $98.83 and its 200 day simple moving average is $92.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC grew its holdings in Communication Services Select Sector SPDR Fund by 2.3% during the 4th quarter. Global Retirement Partners LLC now owns 62,250 shares of the company’s stock valued at $6,026,000 after buying an additional 1,395 shares in the last quarter. 3EDGE Asset Management LP grew its stake in Communication Services Select Sector SPDR Fund by 169.0% during the fourth quarter. 3EDGE Asset Management LP now owns 42,465 shares of the company’s stock valued at $4,111,000 after acquiring an additional 26,681 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in Communication Services Select Sector SPDR Fund during the 4th quarter worth approximately $803,000. Bank of Jackson Hole Trust bought a new position in Communication Services Select Sector SPDR Fund in the 4th quarter valued at $195,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Communication Services Select Sector SPDR Fund during the 4th quarter valued at $1,175,000.

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.