Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 12-Month High – What’s Next?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares reached a new 52-week high on Tuesday . The company traded as high as $97.24 and last traded at $97.16, with a volume of 223896 shares. The stock had previously closed at $96.72.

Communication Services Select Sector SPDR Fund Price Performance

The stock has a market cap of $21.27 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15. The stock’s 50 day simple moving average is $90.38 and its two-hundred day simple moving average is $86.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA acquired a new position in Communication Services Select Sector SPDR Fund during the third quarter worth $25,000. Sound Income Strategies LLC bought a new stake in shares of Communication Services Select Sector SPDR Fund in the 3rd quarter worth about $25,000. Gradient Investments LLC acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the 2nd quarter worth about $26,000. Anchor Investment Management LLC bought a new position in Communication Services Select Sector SPDR Fund during the 2nd quarter valued at about $29,000. Finally, MCF Advisors LLC acquired a new position in Communication Services Select Sector SPDR Fund in the third quarter valued at about $32,000.

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.