Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Sets New 12-Month High – Should You Buy?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $94.68 and last traded at $94.43, with a volume of 246508 shares changing hands. The stock had previously closed at $93.11.

Communication Services Select Sector SPDR Fund Stock Performance

The business has a 50-day simple moving average of $89.55 and a two-hundred day simple moving average of $86.01. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15.

Institutional Trading of Communication Services Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently made changes to their positions in XLC. Avantax Advisory Services Inc. lifted its holdings in Communication Services Select Sector SPDR Fund by 13.2% in the first quarter. Avantax Advisory Services Inc. now owns 108,953 shares of the company’s stock valued at $8,897,000 after acquiring an additional 12,700 shares during the period. Dearborn Partners LLC boosted its holdings in Communication Services Select Sector SPDR Fund by 23.5% during the first quarter. Dearborn Partners LLC now owns 12,369 shares of the company’s stock worth $1,010,000 after buying an additional 2,353 shares in the last quarter. Pettyjohn Wood & White Inc. increased its holdings in Communication Services Select Sector SPDR Fund by 6.4% in the first quarter. Pettyjohn Wood & White Inc. now owns 7,999 shares of the company’s stock valued at $653,000 after buying an additional 484 shares in the last quarter. Hudson Value Partners LLC acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the 1st quarter valued at approximately $553,000. Finally, Verus Capital Partners LLC boosted its stake in shares of Communication Services Select Sector SPDR Fund by 63.6% during the 1st quarter. Verus Capital Partners LLC now owns 4,723 shares of the company’s stock worth $386,000 after acquiring an additional 1,836 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.