Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Shares Down 0.4% – What’s Next?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s stock price dropped 0.4% during mid-day trading on Thursday . The stock traded as low as $98.55 and last traded at $98.65. Approximately 3,319,256 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 4,307,512 shares. The stock had previously closed at $99.09.

Communication Services Select Sector SPDR Fund Stock Performance

The business has a 50 day simple moving average of $100.62 and a 200-day simple moving average of $96.60. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 18.99 and a beta of 1.05.

Communication Services Select Sector SPDR Fund Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, March 26th. Investors of record on Monday, March 24th were given a dividend of $0.2879 per share. This is a boost from Communication Services Select Sector SPDR Fund’s previous dividend of $0.22. The ex-dividend date of this dividend was Monday, March 24th.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

Several large investors have recently modified their holdings of the business. RE Dickinson Investment Advisors LLC acquired a new position in shares of Communication Services Select Sector SPDR Fund in the 4th quarter worth approximately $26,000. Arlington Trust Co LLC purchased a new stake in shares of Communication Services Select Sector SPDR Fund in the 4th quarter valued at $28,000. BTG Pactual Asset Management US LLC acquired a new position in Communication Services Select Sector SPDR Fund during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new position in Communication Services Select Sector SPDR Fund during the 4th quarter valued at about $31,000. Finally, Roxbury Financial LLC acquired a new position in Communication Services Select Sector SPDR Fund in the 4th quarter valued at about $37,000.

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.