Investors Buy High Volume of Communication Services Select Sector SPDR Fund Put Options (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the target of unusually large options trading activity on Monday. Traders purchased 21,111 put options on the stock. This represents an increase of approximately 291% compared to the average volume of 5,395 put options.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

A number of institutional investors have recently modified their holdings of XLC. Bank of America Corp DE grew its position 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 acquiring an additional 116,961 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Communication Services Select Sector SPDR Fund by 6.5% in 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 during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Communication Services Select Sector SPDR Fund by 3.4% in the 4th quarter. Wells Fargo & Company MN now owns 7,491,358 shares of the company’s stock valued at $881,883,000 after purchasing an additional 245,414 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Communication Services Select Sector SPDR Fund by 8.9% in the 4th quarter. Raymond James Financial Inc. now owns 5,768,478 shares of the company’s stock valued at $679,065,000 after purchasing an additional 473,363 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Communication Services Select Sector SPDR Fund by 148.3% during the 3rd quarter. Barclays PLC now owns 5,048,892 shares of the company’s stock valued at $597,637,000 after purchasing an additional 3,015,840 shares during the last quarter.

Communication Services Select Sector SPDR Fund Price Performance

Shares of NYSEARCA:XLC opened at $112.71 on Tuesday. Communication Services Select Sector SPDR Fund has a 1 year low of $84.02 and a 1 year high of $120.40. The stock has a market capitalization of $26.24 billion, a price-to-earnings ratio of 19.19 and a beta of 1.02. The company’s 50 day simple moving average is $116.24 and its 200 day simple moving average is $115.95.

Communication Services Select Sector SPDR Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Monday, March 23rd will be paid a $0.357 dividend. The ex-dividend date is Monday, March 23rd. This represents a $1.43 annualized dividend and a dividend yield of 1.3%.

About Communication Services Select Sector SPDR Fund

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.