Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 12-Month High – Time to Buy?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $101.53 and last traded at $101.41, with a volume of 359885 shares traded. The stock had previously closed at $100.33.

Communication Services Select Sector SPDR Fund Stock Performance

The company has a market cap of $22.36 billion, a price-to-earnings ratio of 29.67 and a beta of 1.15. The stock’s fifty day moving average is $94.89 and its two-hundred day moving average is $89.00.

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 XLC. Sound Income Strategies LLC bought a new position in shares of Communication Services Select Sector SPDR Fund during the 3rd quarter worth approximately $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Communication Services Select Sector SPDR Fund during the third quarter valued at approximately $25,000. Gradient Investments LLC bought a new stake in Communication Services Select Sector SPDR Fund during the second quarter worth $26,000. Anchor Investment Management LLC purchased a new position in Communication Services Select Sector SPDR Fund in the second quarter worth $29,000. Finally, MCF Advisors LLC bought a new position in Communication Services Select Sector SPDR Fund in the 3rd quarter valued at $32,000.

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.