Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Price Down 1.8% – Here’s Why

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s stock price was down 1.8% during mid-day trading on Thursday . The stock traded as low as $99.20 and last traded at $99.65. Approximately 4,829,550 shares traded hands during trading, a decline of 1% from the average daily volume of 4,869,715 shares. The stock had previously closed at $101.47.

Communication Services Select Sector SPDR Fund Price Performance

The company has a market cap of $21.62 billion, a P/E ratio of 20.77 and a beta of 1.03. The company has a 50 day moving average of $100.50 and a 200-day moving average of $95.39.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Park Square Financial Group LLC purchased a new position in Communication Services Select Sector SPDR Fund in the 4th quarter worth approximately $62,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Communication Services Select Sector SPDR Fund during the 4th quarter worth $285,000. Jefferies Financial Group Inc. grew its position in Communication Services Select Sector SPDR Fund by 14.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 3,810 shares of the company’s stock worth $369,000 after acquiring an additional 488 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Communication Services Select Sector SPDR Fund by 3.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 57,372 shares of the company’s stock worth $5,554,000 after acquiring an additional 2,159 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its stake in Communication Services Select Sector SPDR Fund by 17.2% in the fourth quarter. Integrated Advisors Network LLC now owns 36,616 shares of the company’s stock valued at $3,545,000 after acquiring an additional 5,371 shares during the last quarter.

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.