Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Price Up 0.1%

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s share price rose 0.1% on Monday . The company traded as high as $80.22 and last traded at $79.58. Approximately 5,457,047 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 6,115,628 shares. The stock had previously closed at $79.47.

Communication Services Select Sector SPDR Fund Stock Performance

The firm has a market cap of $17.74 billion, a P/E ratio of 30.32 and a beta of 1.20. The firm has a 50 day simple moving average of $80.40 and a 200 day simple moving average of $74.48.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Communication Services Select Sector SPDR Fund by 61.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,302,412 shares of the company’s stock valued at $150,969,000 after acquiring an additional 874,800 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Communication Services Select Sector SPDR Fund by 12.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 6,192,015 shares of the company’s stock worth $449,912,000 after purchasing an additional 695,233 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Communication Services Select Sector SPDR Fund by 25.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,976,181 shares of the company’s stock valued at $195,017,000 after purchasing an additional 596,662 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Communication Services Select Sector SPDR Fund during the 4th quarter valued at about $39,389,000. Finally, Donaldson Capital Management LLC bought a new stake in Communication Services Select Sector SPDR Fund in the 1st quarter worth approximately $40,479,000.

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.