Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 1-Year High – Here’s What Happened

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) reached a new 52-week high during trading on Thursday . The company traded as high as $103.12 and last traded at $102.55, with a volume of 390404 shares trading hands. The stock had previously closed at $101.87.

Communication Services Select Sector SPDR Fund Stock Performance

The firm has a market capitalization of $22.41 billion, a P/E ratio of 29.67 and a beta of 1.15. The firm has a 50 day simple moving average of $98.83 and a two-hundred day simple moving average of $92.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Communication Services Select Sector SPDR Fund by 226.8% during the 3rd quarter. State Street Corp now owns 2,462,512 shares of the company’s stock worth $222,611,000 after purchasing an additional 1,709,028 shares during the period. Maven Securities LTD increased its holdings in Communication Services Select Sector SPDR Fund by 104.1% during the third quarter. Maven Securities LTD now owns 50,512 shares of the company’s stock worth $4,566,000 after buying an additional 1,276,272 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its position in Communication Services Select Sector SPDR Fund by 29.8% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 4,083,333 shares of the company’s stock worth $395,307,000 after acquiring an additional 936,637 shares during the period. Kingsview Wealth Management LLC boosted its stake in Communication Services Select Sector SPDR Fund by 1,083.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 396,642 shares of the company’s stock valued at $38,399,000 after acquiring an additional 363,119 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Communication Services Select Sector SPDR Fund during the 4th quarter valued at approximately $22,001,000.

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.