Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Price Up 1.1% – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) rose 1.1% during trading on Friday . The company traded as high as $118.16 and last traded at $118.05. Approximately 7,131,055 shares were traded during trading, a decline of 3% from the average daily volume of 7,356,651 shares. The stock had previously closed at $116.72.

Communication Services Select Sector SPDR Fund Price Performance

The firm has a market capitalization of $27.48 billion, a P/E ratio of 19.19 and a beta of 1.02. The stock’s 50-day simple moving average is $116.79 and its two-hundred day simple moving average is $115.37.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Communication Services Select Sector SPDR Fund by 0.3% in the fourth quarter. Bank of America Corp DE now owns 44,904,254 shares of the company’s stock worth $5,286,129,000 after acquiring an additional 116,961 shares during the period. JPMorgan Chase & Co. lifted its holdings in Communication Services Select Sector SPDR Fund by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,786,035 shares of the company’s stock worth $1,276,743,000 after purchasing an additional 657,306 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Communication Services Select Sector SPDR Fund by 3.4% in the 4th quarter. Wells Fargo & Company MN now owns 7,491,358 shares of the company’s stock worth $881,883,000 after purchasing an additional 245,414 shares during the period. Raymond James Financial Inc. grew its holdings in Communication Services Select Sector SPDR Fund by 8.9% during the 4th quarter. Raymond James Financial Inc. now owns 5,768,478 shares of the company’s stock valued at $679,065,000 after buying an additional 473,363 shares in the last quarter. Finally, Barclays PLC grew its holdings in Communication Services Select Sector SPDR Fund by 148.3% during the 3rd quarter. Barclays PLC now owns 5,048,892 shares of the company’s stock valued at $597,637,000 after buying an additional 3,015,840 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.