Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,702,440 shares, an increase of 88.3% from the October 31st total of 904,319 shares. Based on an average trading volume of 2,238,178 shares, the days-to-cover ratio is currently 0.8 days.

XLC opened at $43.75 on Thursday. Communication Services Select Sector SPDR Fund has a twelve month low of $42.38 and a twelve month high of $52.11.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XLC. Lenox Wealth Management Inc. bought a new stake in shares of Communication Services Select Sector SPDR Fund in the third quarter valued at approximately $226,000. Fifth Third Bancorp bought a new stake in shares of Communication Services Select Sector SPDR Fund in the third quarter valued at approximately $126,000. Murphy Capital Management Inc. bought a new stake in shares of Communication Services Select Sector SPDR Fund in the third quarter valued at approximately $200,000. Bank of New York Mellon Corp bought a new stake in shares of Communication Services Select Sector SPDR Fund in the third quarter valued at approximately $206,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of Communication Services Select Sector SPDR Fund in the third quarter valued at approximately $213,000.

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Further Reading: Leveraged Buyout (LBO)

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