Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 52-Week 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 $101.53 and last traded at $101.41, with a volume of 359885 shares. The stock had previously closed at $100.33.

Communication Services Select Sector SPDR Fund Stock Performance

The business’s fifty day simple moving average is $94.41 and its 200-day simple moving average is $88.81. The firm has a market capitalization of $22.23 billion, a PE ratio of 29.67 and a beta of 1.15.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

Several large investors have recently made changes to their positions in XLC. State Street Corp grew its position in Communication Services Select Sector SPDR Fund by 226.8% in the third quarter. State Street Corp now owns 2,462,512 shares of the company’s stock worth $222,611,000 after acquiring an additional 1,709,028 shares in the last quarter. Maven Securities LTD increased its position in shares of Communication Services Select Sector SPDR Fund by 104.1% during the 3rd quarter. Maven Securities LTD now owns 50,512 shares of the company’s stock valued at $4,566,000 after purchasing an additional 1,276,272 shares during the last quarter. Granite Bay Wealth Management LLC raised its holdings in Communication Services Select Sector SPDR Fund by 4,632.2% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 372,708 shares of the company’s stock valued at $30,471,000 after buying an additional 364,832 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in Communication Services Select Sector SPDR Fund by 9.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,770,938 shares of the company’s stock worth $323,020,000 after buying an additional 325,617 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Communication Services Select Sector SPDR Fund by 104.9% during the second quarter. Foundations Investment Advisors LLC now owns 568,136 shares of the company’s stock worth $48,666,000 after buying an additional 290,856 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.