Investors Buy Large Volume of Put Options on Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) saw some unusual options trading activity on Friday. Stock traders purchased 110,241 put options on the company. This represents an increase of 5,808% compared to the typical daily volume of 1,866 put options.

Communication Services Select Sector SPDR Fund Stock Performance

Shares of XLC stock opened at $115.76 on Friday. Communication Services Select Sector SPDR Fund has a 52-week low of $84.02 and a 52-week high of $120.40. The firm’s 50 day moving average price is $116.88 and its two-hundred day moving average price is $114.53. The stock has a market cap of $26.95 billion, a PE ratio of 19.19 and a beta of 1.02.

Institutional Trading of Communication Services Select Sector SPDR Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC acquired a new position in shares of Communication Services Select Sector SPDR Fund during the 4th quarter worth about $250,000. Millennium Management LLC increased its position in Communication Services Select Sector SPDR Fund by 3.9% during the first quarter. Millennium Management LLC now owns 133,607 shares of the company’s stock worth $12,886,000 after buying an additional 5,011 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Communication Services Select Sector SPDR Fund in the second quarter valued at approximately $113,000. QRG Capital Management Inc. lifted its position in shares of Communication Services Select Sector SPDR Fund by 8.6% in the second quarter. QRG Capital Management Inc. now owns 9,051 shares of the company’s stock valued at $982,000 after buying an additional 720 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of Communication Services Select Sector SPDR Fund by 4.1% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,028 shares of the company’s stock worth $329,000 after acquiring an additional 118 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.