Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Sets New 1-Year High – What’s Next?

Shares of Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) reached a new 52-week high on Wednesday . The company traded as high as $103.68 and last traded at $103.52, with a volume of 5543019 shares changing hands. The stock had previously closed at $102.60.

Communication Services Select Sector SPDR Fund Stock Up 0.4 %

The business’s fifty day moving average is $99.24 and its two-hundred day moving average is $92.85. The stock has a market capitalization of $22.53 billion, a PE ratio of 29.67 and a beta of 1.15.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Edgestream Partners L.P. lifted its stake in shares of Communication Services Select Sector SPDR Fund by 15.7% in the 4th quarter. Edgestream Partners L.P. now owns 13,614 shares of the company’s stock valued at $1,318,000 after purchasing an additional 1,845 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in Communication Services Select Sector SPDR Fund by 8.6% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 121,281 shares of the company’s stock worth $11,741,000 after buying an additional 9,576 shares during the last quarter. Straight Path Wealth Management purchased a new position in Communication Services Select Sector SPDR Fund during the fourth quarter worth $201,000. Raymond James Financial Inc. bought a new position in Communication Services Select Sector SPDR Fund during the fourth quarter valued at $427,652,000. Finally, Atria Investments Inc raised its stake in shares of Communication Services Select Sector SPDR Fund by 6.4% in the fourth quarter. Atria Investments Inc now owns 74,493 shares of the company’s stock valued at $7,212,000 after acquiring an additional 4,482 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.