Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Trading Down 0.3% – Here’s What Happened

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) traded down 0.3% on Wednesday . The company 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 Price Performance

The stock has a market cap of $21.19 billion, a P/E ratio of 29.67 and a beta of 1.15. The company has a 50 day simple moving average of $97.13 and a 200-day simple moving average of $90.47.

Institutional Trading of Communication Services Select Sector SPDR Fund

A number of hedge funds have recently bought and sold shares of XLC. State Street Corp lifted its stake in Communication Services Select Sector SPDR Fund by 226.8% in the third quarter. State Street Corp now owns 2,462,512 shares of the company’s stock worth $222,611,000 after purchasing an additional 1,709,028 shares during the last quarter. Maven Securities LTD lifted its stake in shares of Communication Services Select Sector SPDR Fund by 104.1% in the 3rd quarter. Maven Securities LTD now owns 50,512 shares of the company’s stock valued at $4,566,000 after acquiring an additional 1,276,272 shares during the last quarter. Granite Bay Wealth Management LLC lifted its stake in shares of Communication Services Select Sector SPDR Fund by 4,632.2% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 372,708 shares of the company’s stock valued at $30,471,000 after acquiring an additional 364,832 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in Communication Services Select Sector SPDR Fund by 104.9% during the 2nd quarter. Foundations Investment Advisors LLC now owns 568,136 shares of the company’s stock valued at $48,666,000 after acquiring an additional 290,856 shares during the period. Finally, Virtu Financial LLC bought a new position in Communication Services Select Sector SPDR Fund during the 3rd quarter worth approximately $20,340,000.

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.