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

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

Communication Services Select Sector SPDR Fund Stock Up 0.9 %

The stock has a market cap of $21.97 billion, a PE ratio of 29.67 and a beta of 1.15. The firm has a 50-day simple moving average of $98.34 and a 200-day simple moving average of $91.86.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

Large investors have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its holdings in Communication Services Select Sector SPDR Fund by 3.3% in the third quarter. LPL Financial LLC now owns 4,691,450 shares of the company’s stock valued at $424,107,000 after acquiring an additional 151,698 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake in shares of Communication Services Select Sector SPDR Fund by 29.8% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 4,083,333 shares of the company’s stock valued at $395,307,000 after purchasing an additional 936,637 shares in the last quarter. Main Management ETF Advisors LLC increased its position in shares of Communication Services Select Sector SPDR Fund by 2.5% during the third quarter. Main Management ETF Advisors LLC now owns 2,956,875 shares of the company’s stock valued at $267,302,000 after buying an additional 72,420 shares during the period. State Street Corp raised its stake 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 buying an additional 1,709,028 shares in the last quarter. Finally, Grimes & Company Inc. lifted its holdings in Communication Services Select Sector SPDR Fund by 2.9% in the fourth quarter. Grimes & Company Inc. now owns 784,555 shares of the company’s stock worth $75,953,000 after buying an additional 21,887 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.