Communication Services Select Sector SPDR Fund Target of Unusually Large Options Trading (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) saw some unusual options trading activity on Thursday. Stock investors purchased 17,428 call options on the company. This is an increase of 487% compared to the typical volume of 2,967 call options.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

Several large investors have recently modified their holdings of XLC. Boltwood Capital Management lifted its holdings in shares of Communication Services Select Sector SPDR Fund by 0.6% during the 1st quarter. Boltwood Capital Management now owns 20,430 shares of the company’s stock valued at $1,668,000 after buying an additional 125 shares during the period. Scotia Capital Inc. increased its position in Communication Services Select Sector SPDR Fund by 1.5% in the fourth quarter. Scotia Capital Inc. now owns 9,718 shares of the company’s stock worth $706,000 after buying an additional 142 shares in the last quarter. Byrne Asset Management LLC increased its position in Communication Services Select Sector SPDR Fund by 7.4% in the first quarter. Byrne Asset Management LLC now owns 2,189 shares of the company’s stock worth $179,000 after buying an additional 150 shares in the last quarter. Pure Financial Advisors LLC raised its stake in Communication Services Select Sector SPDR Fund by 3.4% during the 4th quarter. Pure Financial Advisors LLC now owns 4,650 shares of the company’s stock worth $338,000 after acquiring an additional 151 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of Communication Services Select Sector SPDR Fund by 1.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 10,631 shares of the company’s stock worth $772,000 after purchasing an additional 153 shares in the last quarter.

Communication Services Select Sector SPDR Fund Stock Performance

XLC stock opened at $84.39 on Friday. The firm has a 50 day moving average price of $82.06 and a 200-day moving average price of $78.67. Communication Services Select Sector SPDR Fund has a 52-week low of $62.82 and a 52-week high of $85.63. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15.

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.