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

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $103.97 and last traded at $104.09, with a volume of 454645 shares changing hands. The stock had previously closed at $103.48.

Communication Services Select Sector SPDR Fund Trading Up 0.6 %

The firm has a market cap of $22.78 billion, a PE ratio of 29.67 and a beta of 1.15. The firm has a 50 day moving average price of $99.54 and a 200-day moving average price of $93.45.

Institutional Trading of Communication Services Select Sector SPDR Fund

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Communication Services Select Sector SPDR Fund by 8.9% during the 4th quarter. JPMorgan Chase & Co. now owns 9,663,156 shares of the company’s stock valued at $935,490,000 after purchasing an additional 787,017 shares during the period. Wells Fargo & Company MN grew its stake in Communication Services Select Sector SPDR Fund by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 7,930,217 shares of the company’s stock valued at $767,724,000 after purchasing an additional 428,878 shares in the last quarter. LPL Financial LLC lifted its position in shares of Communication Services Select Sector SPDR Fund by 11.5% during the 4th quarter. LPL Financial LLC now owns 5,232,823 shares of the company’s stock worth $506,590,000 after purchasing an additional 541,373 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Communication Services Select Sector SPDR Fund in the 4th quarter valued at approximately $427,652,000. Finally, CHURCHILL MANAGEMENT Corp grew its stake in shares of Communication Services Select Sector SPDR Fund by 29.8% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 4,083,333 shares of the company’s stock valued at $395,307,000 after purchasing an additional 936,637 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.