Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Shares Up 1% – Should You Buy?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s share price rose 1% on Wednesday . The stock traded as high as $99.81 and last traded at $99.25. Approximately 5,381,445 shares changed hands during trading, an increase of 10% from the average daily volume of 4,901,725 shares. The stock had previously closed at $98.27.

Communication Services Select Sector SPDR Fund Trading Up 1.0 %

The stock has a market capitalization of $21.72 billion, a PE ratio of 29.67 and a beta of 1.15. The firm has a 50-day moving average price of $98.19 and a 200-day moving average price of $91.72.

Institutional Trading of Communication Services Select Sector SPDR Fund

Several hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in Communication Services Select Sector SPDR Fund during the 3rd quarter valued at $25,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Communication Services Select Sector SPDR Fund during the 3rd quarter valued at $25,000. Anchor Investment Management LLC bought a new stake in shares of Communication Services Select Sector SPDR Fund during the 2nd quarter valued at $29,000. MCF Advisors LLC purchased a new stake in Communication Services Select Sector SPDR Fund during the 3rd quarter worth about $32,000. Finally, PSI Advisors LLC boosted its stake in Communication Services Select Sector SPDR Fund by 49.0% in the 4th quarter. PSI Advisors LLC now owns 429 shares of the company’s stock worth $42,000 after purchasing an additional 141 shares during the period.

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.