Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 52-Week High – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $97.24 and last traded at $97.16, with a volume of 223896 shares trading hands. The stock had previously closed at $96.72.

Communication Services Select Sector SPDR Fund Trading Down 0.1 %

The stock has a 50-day moving average of $89.91 and a two-hundred day moving average of $86.33. The firm has a market cap of $21.15 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15.

Institutional Trading of Communication Services Select Sector SPDR Fund

Several large investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Communication Services Select Sector SPDR Fund by 35.0% in the third quarter. Allworth Financial LP now owns 459 shares of the company’s stock worth $41,000 after purchasing an additional 119 shares in the last quarter. Abbot Financial Management Inc. boosted its stake in shares of Communication Services Select Sector SPDR Fund by 4.2% during the 2nd quarter. Abbot Financial Management Inc. now owns 3,075 shares of the company’s stock valued at $263,000 after buying an additional 125 shares during the period. Clarus Wealth Advisors grew its holdings in shares of Communication Services Select Sector SPDR Fund by 0.6% during the 3rd quarter. Clarus Wealth Advisors now owns 21,198 shares of the company’s stock valued at $1,901,000 after acquiring an additional 127 shares in the last quarter. Chesapeake Wealth Management increased its stake in shares of Communication Services Select Sector SPDR Fund by 0.4% in the second quarter. Chesapeake Wealth Management now owns 29,766 shares of the company’s stock worth $2,550,000 after acquiring an additional 129 shares during the last quarter. Finally, Rockingstone Advisors LLC raised its holdings in shares of Communication Services Select Sector SPDR Fund by 1.7% during the second quarter. Rockingstone Advisors LLC now owns 8,525 shares of the company’s stock worth $730,000 after acquiring an additional 140 shares in the last quarter.

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.