Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Price Down 0.3% – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares dropped 0.3% during mid-day trading on Wednesday . The company traded as low as $96.59 and last traded at $96.81. Approximately 3,616,256 shares were traded during trading, a decline of 23% from the average daily volume of 4,693,350 shares. The stock had previously closed at $97.13.

Communication Services Select Sector SPDR Fund Stock Performance

The firm has a market cap of $21.19 billion, a P/E ratio of 29.67 and a beta of 1.15. The firm has a 50 day simple moving average of $97.13 and a 200 day simple moving average of $90.47.

Institutional Trading of Communication Services Select Sector SPDR Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of Communication Services Select Sector SPDR Fund in the 3rd quarter valued at about $25,000. Sound Income Strategies LLC purchased a new stake in Communication Services Select Sector SPDR Fund in the third quarter valued at approximately $25,000. Anchor Investment Management LLC bought a new stake in Communication Services Select Sector SPDR Fund during the second quarter valued at approximately $29,000. MCF Advisors LLC bought a new stake in Communication Services Select Sector SPDR Fund during the third quarter valued at approximately $32,000. Finally, Allworth Financial LP grew its stake in Communication Services Select Sector SPDR Fund by 35.0% in the 3rd quarter. Allworth Financial LP now owns 459 shares of the company’s stock worth $41,000 after buying an additional 119 shares in the last quarter.

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.