Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 1-Year High at $90.72

Shares of Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) reached a new 52-week high on Tuesday . The company traded as high as $90.72 and last traded at $90.72, with a volume of 998 shares trading hands. The stock had previously closed at $90.40.

Communication Services Select Sector SPDR Fund Price Performance

The firm has a market cap of $19.85 billion, a PE ratio of 29.67 and a beta of 1.15. The stock has a 50 day simple moving average of $86.20 and a 200-day simple moving average of $84.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in shares of Communication Services Select Sector SPDR Fund by 2.8% in the second quarter. Envestnet Asset Management Inc. now owns 6,367,437 shares of the company’s stock worth $545,435,000 after purchasing an additional 173,465 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in shares of Communication Services Select Sector SPDR Fund by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 4,951,567 shares of the company’s stock valued at $404,345,000 after acquiring an additional 197,668 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Communication Services Select Sector SPDR Fund by 2.8% in the second quarter. LPL Financial LLC now owns 4,539,752 shares of the company’s stock worth $388,875,000 after acquiring an additional 123,531 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Communication Services Select Sector SPDR Fund by 9.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,770,938 shares of the company’s stock worth $323,020,000 after purchasing an additional 325,617 shares in the last quarter. Finally, Main Management ETF Advisors LLC raised its stake in Communication Services Select Sector SPDR Fund by 2.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 2,884,455 shares of the company’s stock valued at $247,082,000 after purchasing an additional 72,420 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.