Traders Purchase Large Volume of Communication Services Select Sector SPDR Fund Call Options (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the recipient of unusually large options trading activity on Thursday. Traders acquired 15,568 call options on the company. This is an increase of approximately 294% compared to the typical volume of 3,948 call options.

Communication Services Select Sector SPDR Fund Trading Down 0.8 %

XLC traded down $0.74 on Friday, hitting $96.35. 181,842 shares of the company’s stock were exchanged, compared to its average volume of 4,803,979. The firm has a market cap of $21.09 billion, a PE ratio of 29.67 and a beta of 1.15. The stock has a fifty day moving average of $90.61 and a two-hundred day moving average of $86.60. Communication Services Select Sector SPDR Fund has a twelve month low of $68.51 and a twelve month high of $97.62.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

Several large investors have recently modified their holdings of XLC. Russell Investments Group Ltd. purchased a new stake in Communication Services Select Sector SPDR Fund in the first quarter worth $37,000. Koshinski Asset Management Inc. bought a new stake in Communication Services Select Sector SPDR Fund during the first quarter valued at approximately $243,000. SageView Advisory Group LLC boosted its stake in Communication Services Select Sector SPDR Fund by 74.2% during the first quarter. SageView Advisory Group LLC now owns 10,000 shares of the company’s stock valued at $817,000 after buying an additional 4,258 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Communication Services Select Sector SPDR Fund by 13.7% in the first quarter. Blair William & Co. IL now owns 80,185 shares of the company’s stock valued at $6,548,000 after purchasing an additional 9,679 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in Communication Services Select Sector SPDR Fund by 5.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 123,423 shares of the company’s stock worth $10,079,000 after acquiring an additional 6,651 shares during the last quarter.

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.