Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Price Down 0.3% – What’s Next?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) dropped 0.3% on Wednesday . The stock traded as low as $96.59 and last traded at $96.81. Approximately 3,616,256 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 4,693,350 shares. The stock had previously closed at $97.13.

Communication Services Select Sector SPDR Fund Price Performance

The firm has a market cap of $21.29 billion, a PE ratio of 29.67 and a beta of 1.15. The company’s 50 day moving average price is $97.27 and its 200 day moving average price is $90.52.

Institutional Trading of Communication Services Select Sector SPDR Fund

A number of large investors have recently made changes to their positions in XLC. SMART Wealth LLC boosted its holdings in shares of Communication Services Select Sector SPDR Fund by 10.0% in the third quarter. SMART Wealth LLC now owns 23,268 shares of the company’s stock valued at $2,103,000 after acquiring an additional 2,112 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Communication Services Select Sector SPDR Fund by 10.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 55,213 shares of the company’s stock valued at $4,976,000 after purchasing an additional 5,185 shares during the period. Beaird Harris Wealth Management LLC purchased a new stake in Communication Services Select Sector SPDR Fund in the 3rd quarter valued at approximately $572,000. Asset Advisors Investment Management LLC boosted its holdings in Communication Services Select Sector SPDR Fund by 11.5% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 210,815 shares of the company’s stock valued at $19,058,000 after purchasing an additional 21,722 shares in the last quarter. Finally, Tidal Investments LLC increased its position in Communication Services Select Sector SPDR Fund by 8.6% during the 3rd quarter. Tidal Investments LLC now owns 23,269 shares of the company’s stock worth $2,104,000 after purchasing an additional 1,849 shares during the period.

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.