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

Shares of Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) reached a new 52-week high on Wednesday . The stock traded as high as $94.68 and last traded at $94.43, with a volume of 246508 shares traded. The stock had previously closed at $93.11.

Communication Services Select Sector SPDR Fund Price Performance

The stock has a market cap of $21.05 billion, a PE ratio of 29.67 and a beta of 1.15. The firm has a 50 day moving average of $89.55 and a two-hundred day moving average of $86.01.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently bought and sold shares of XLC. Geneos Wealth Management Inc. grew its stake in Communication Services Select Sector SPDR Fund by 253.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,976 shares of the company’s stock worth $406,000 after buying an additional 3,569 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Communication Services Select Sector SPDR Fund by 3.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,509 shares of the company’s stock worth $4,533,000 after acquiring an additional 2,060 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Communication Services Select Sector SPDR Fund in the 1st quarter valued at $7,712,000. Oppenheimer & Co. Inc. raised its position in Communication Services Select Sector SPDR Fund by 2.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 70,321 shares of the company’s stock valued at $5,742,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Nvwm LLC boosted its stake in Communication Services Select Sector SPDR Fund by 1,926.2% during the 1st quarter. Nvwm LLC now owns 16,007 shares of the company’s stock worth $1,307,000 after purchasing an additional 15,217 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.