Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 12-Month High – Here’s What Happened

Shares of Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) hit a new 52-week high on Friday . The stock traded as high as $91.49 and last traded at $91.48, with a volume of 201205 shares changing hands. The stock had previously closed at $90.62.

Communication Services Select Sector SPDR Fund Stock Performance

The firm has a 50-day moving average of $88.40 and a 200-day moving average of $85.19. The firm has a market capitalization of $20.02 billion, a P/E ratio of 29.67 and a beta of 1.15.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XLC. Fifth Third Wealth Advisors LLC bought a new position in shares of Communication Services Select Sector SPDR Fund during the first quarter valued at about $207,000. Financial Management Professionals Inc. purchased a new position in Communication Services Select Sector SPDR Fund during the 1st quarter valued at about $42,000. Independence Bank of Kentucky raised its position in Communication Services Select Sector SPDR Fund by 427.0% during the 1st quarter. Independence Bank of Kentucky now owns 606 shares of the company’s stock valued at $49,000 after purchasing an additional 491 shares during the last quarter. Occidental Asset Management LLC lifted its holdings in Communication Services Select Sector SPDR Fund by 1.8% in the 1st quarter. Occidental Asset Management LLC now owns 52,733 shares of the company’s stock worth $4,306,000 after buying an additional 933 shares during the period. Finally, Toth Financial Advisory Corp grew its position in shares of Communication Services Select Sector SPDR Fund by 18.1% in the 1st quarter. Toth Financial Advisory Corp now owns 35,579 shares of the company’s stock worth $2,905,000 after buying an additional 5,462 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.