Stock Traders Purchase Large Volume of Put Options on Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 20,413 put options on the company. This represents an increase of approximately 207% compared to the typical volume of 6,654 put options.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

A number of large investors have recently modified their holdings of XLC. Focus Partners Wealth boosted its position in shares of Communication Services Select Sector SPDR Fund by 1,265.9% in the third quarter. Focus Partners Wealth now owns 4,942,628 shares of the company’s stock valued at $585,059,000 after acquiring an additional 4,580,773 shares during the period. Barclays PLC boosted its position in shares of Communication Services Select Sector SPDR Fund by 148.3% in the third quarter. Barclays PLC now owns 5,048,892 shares of the company’s stock valued at $597,637,000 after acquiring an additional 3,015,840 shares during the period. Cibc World Market Inc. boosted its position in shares of Communication Services Select Sector SPDR Fund by 3,427.3% in the third quarter. Cibc World Market Inc. now owns 1,445,562 shares of the company’s stock valued at $171,111,000 after acquiring an additional 1,404,580 shares during the period. Raymond James Financial Inc. boosted its position in shares of Communication Services Select Sector SPDR Fund by 29.4% in the second quarter. Raymond James Financial Inc. now owns 5,505,595 shares of the company’s stock valued at $597,522,000 after acquiring an additional 1,251,920 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Communication Services Select Sector SPDR Fund by 1,868.4% in the third quarter. BNP Paribas Financial Markets now owns 1,158,562 shares of the company’s stock valued at $137,139,000 after acquiring an additional 1,099,704 shares during the period.

Communication Services Select Sector SPDR Fund Price Performance

NYSEARCA:XLC traded up $2.32 on Wednesday, reaching $114.14. 2,073,320 shares of the company’s stock were exchanged, compared to its average volume of 7,842,181. The firm has a market cap of $24.69 billion, a price-to-earnings ratio of 19.19 and a beta of 1.03. Communication Services Select Sector SPDR Fund has a 52 week low of $84.96 and a 52 week high of $120.40. The stock has a fifty day simple moving average of $115.03 and a 200-day simple moving average of $115.44.

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.