Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Trading Up 1.9%

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares were up 1.9% during trading on Thursday . The company traded as high as $86.07 and last traded at $86.04. Approximately 4,689,001 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 5,168,091 shares. The stock had previously closed at $84.46.

Communication Services Select Sector SPDR Fund Stock Up 1.0 %

The company has a 50 day simple moving average of $85.64 and a 200-day simple moving average of $83.32. The stock has a market cap of $19.01 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the 2nd quarter worth approximately $17,409,000. RiverFront Investment Group LLC increased its position in Communication Services Select Sector SPDR Fund by 3.2% in the 2nd quarter. RiverFront Investment Group LLC now owns 476,525 shares of the company’s stock valued at $40,819,000 after acquiring an additional 14,744 shares during the period. Founders Financial Alliance LLC increased its position in Communication Services Select Sector SPDR Fund by 81.9% in the 2nd quarter. Founders Financial Alliance LLC now owns 3,144 shares of the company’s stock valued at $269,000 after acquiring an additional 1,416 shares during the period. Orleans Capital Management Corp LA increased its position in Communication Services Select Sector SPDR Fund by 3.4% in the 2nd quarter. Orleans Capital Management Corp LA now owns 67,975 shares of the company’s stock valued at $5,823,000 after acquiring an additional 2,232 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its stake in Communication Services Select Sector SPDR Fund by 4,632.2% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 372,708 shares of the company’s stock valued at $30,471,000 after purchasing an additional 364,832 shares in 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.