Stock Traders Purchase Large Volume of Put Options on Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the target of some unusual options trading activity on Friday. Stock investors bought 110,241 put options on the company. This represents an increase of 5,808% compared to the average volume of 1,866 put options.

Communication Services Select Sector SPDR Fund Price Performance

NYSEARCA:XLC traded down $0.60 during mid-day trading on Friday, reaching $115.61. 6,083,700 shares of the company’s stock traded hands, compared to its average volume of 7,399,162. Communication Services Select Sector SPDR Fund has a 12-month low of $84.02 and a 12-month high of $120.40. The company has a 50 day moving average price of $116.87 and a 200-day moving average price of $114.43. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of 19.19 and a beta of 1.02.

Institutional Trading of Communication Services Select Sector SPDR Fund

Several large investors have recently modified their holdings of XLC. Atlantic Union Bankshares Corp increased its holdings in shares of Communication Services Select Sector SPDR Fund by 93.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 213 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. Financial Life Planners acquired a new position in Communication Services Select Sector SPDR Fund in the third quarter valued at $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Communication Services Select Sector SPDR Fund in the 3rd quarter valued at about $27,000. Nvwm LLC increased its position in shares of Communication Services Select Sector SPDR Fund by 1,035.0% during the fourth quarter. Nvwm LLC now owns 227 shares of the company’s stock worth $27,000 after acquiring an additional 207 shares during the last quarter. Finally, Biltmore Family Office LLC bought a new stake in shares of Communication Services Select Sector SPDR Fund in the third quarter worth $29,000.

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.