Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 52-Week High – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $103.97 and last traded at $104.09, with a volume of 454645 shares. The stock had previously closed at $103.48.

Communication Services Select Sector SPDR Fund Price Performance

The business has a 50 day moving average price of $99.72 and a 200 day moving average price of $93.68. The stock has a market capitalization of $23.05 billion, a PE ratio of 29.67 and a beta of 1.15.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XLC. Gallagher Fiduciary Advisors LLC boosted its stake in Communication Services Select Sector SPDR Fund by 4.1% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 12,159 shares of the company’s stock valued at $1,177,000 after purchasing an additional 484 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Communication Services Select Sector SPDR Fund by 29.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 180,210 shares of the company’s stock valued at $17,452,000 after purchasing an additional 41,510 shares during the period. Peterson Wealth Management grew its position in Communication Services Select Sector SPDR Fund by 8.7% in the 4th quarter. Peterson Wealth Management now owns 8,280 shares of the company’s stock worth $802,000 after purchasing an additional 666 shares during the period. Westbourne Investments Inc. purchased a new stake in Communication Services Select Sector SPDR Fund during the 4th quarter valued at $476,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Communication Services Select Sector SPDR Fund in the 4th quarter worth $9,644,000.

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.