Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 1-Year High – Here’s What Happened

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) reached a new 52-week high during trading on Monday . The stock traded as high as $97.82 and last traded at $97.82, with a volume of 165228 shares changing hands. The stock had previously closed at $96.88.

Communication Services Select Sector SPDR Fund Price Performance

The firm has a market capitalization of $21.39 billion, a PE ratio of 29.67 and a beta of 1.15. The company’s fifty day simple moving average is $92.20 and its 200 day simple moving average is $87.51.

Institutional Trading of Communication Services Select Sector SPDR Fund

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in Communication Services Select Sector SPDR Fund by 226.8% during the 3rd quarter. State Street Corp now owns 2,462,512 shares of the company’s stock valued at $222,611,000 after acquiring an additional 1,709,028 shares during the period. Maven Securities LTD grew its position in shares of Communication Services Select Sector SPDR Fund by 104.1% in the third quarter. Maven Securities LTD now owns 50,512 shares of the company’s stock valued at $4,566,000 after purchasing an additional 1,276,272 shares in the last quarter. Granite Bay Wealth Management LLC raised its stake in shares of Communication Services Select Sector SPDR Fund by 4,632.2% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 372,708 shares of the company’s stock valued at $30,471,000 after purchasing an additional 364,832 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Communication Services Select Sector SPDR Fund by 9.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,770,938 shares of the company’s stock worth $323,020,000 after purchasing an additional 325,617 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Communication Services Select Sector SPDR Fund by 104.9% in the 2nd quarter. Foundations Investment Advisors LLC now owns 568,136 shares of the company’s stock worth $48,666,000 after purchasing an additional 290,856 shares during the period.

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.