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

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) saw unusually large options trading activity on Wednesday. Stock investors bought 20,413 put options on the company. This represents an increase of approximately 207% compared to the typical daily volume of 6,654 put options.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

A number of large investors have recently added to or reduced their stakes in XLC. NBC Securities Inc. increased its position in shares of Communication Services Select Sector SPDR Fund by 7.2% in the fourth quarter. NBC Securities Inc. now owns 1,312 shares of the company’s stock valued at $155,000 after acquiring an additional 88 shares during the period. Crewe Advisors LLC increased its position in shares of Communication Services Select Sector SPDR Fund by 24.2% in the fourth quarter. Crewe Advisors LLC now owns 457 shares of the company’s stock valued at $54,000 after acquiring an additional 89 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Communication Services Select Sector SPDR Fund by 5.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,836 shares of the company’s stock valued at $217,000 after acquiring an additional 90 shares during the period. Stockman Wealth Management Inc. increased its position in shares of Communication Services Select Sector SPDR Fund by 0.4% in the third quarter. Stockman Wealth Management Inc. now owns 21,607 shares of the company’s stock valued at $2,558,000 after acquiring an additional 95 shares during the period. Finally, Miracle Mile Advisors LLC increased its position in shares of Communication Services Select Sector SPDR Fund by 0.7% in the third quarter. Miracle Mile Advisors LLC now owns 13,139 shares of the company’s stock valued at $1,555,000 after acquiring an additional 96 shares during the period.

Communication Services Select Sector SPDR Fund Stock Up 1.8%

Shares of NYSEARCA:XLC opened at $113.81 on Thursday. The stock has a market cap of $24.62 billion, a PE ratio of 19.19 and a beta of 1.03. The company’s fifty day moving average is $114.97 and its 200 day moving average is $115.43. Communication Services Select Sector SPDR Fund has a 52 week low of $84.96 and a 52 week high of $120.40.

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.