Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Shares Down 0.3% – What’s Next?

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

Communication Services Select Sector SPDR Fund Stock Up 0.5 %

The business’s 50-day simple moving average is $97.27 and its two-hundred day simple moving average is $90.52. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15.

Institutional Trading of Communication Services Select Sector SPDR Fund

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

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.