Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 1-Year High – Time to Buy?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares reached a new 52-week high on Monday . The company traded as high as $98.59 and last traded at $98.59, with a volume of 1506 shares. The stock had previously closed at $98.40.

Communication Services Select Sector SPDR Fund Stock Up 0.2 %

The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15. The company’s fifty day moving average is $92.97 and its two-hundred day moving average is $87.96.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

Several hedge funds have recently added to or reduced their stakes in XLC. Sound Income Strategies LLC bought a new stake in shares of Communication Services Select Sector SPDR Fund in the 3rd quarter valued at $25,000. Compagnie Lombard Odier SCmA acquired a new position in Communication Services Select Sector SPDR Fund in the third quarter valued at about $25,000. Gradient Investments LLC bought a new stake in shares of Communication Services Select Sector SPDR Fund in the second quarter worth about $26,000. Anchor Investment Management LLC acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the second quarter worth about $29,000. Finally, MCF Advisors LLC acquired a new position in shares of Communication Services Select Sector SPDR Fund in the 3rd quarter valued at approximately $32,000.

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.