Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Trading Up 0.7% – Should You Buy?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was up 0.7% on Monday . The company traded as high as $118.01 and last traded at $117.77. Approximately 4,763,756 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 6,419,955 shares. The stock had previously closed at $116.96.

Communication Services Select Sector SPDR Fund Price Performance

The firm has a fifty day simple moving average of $116.01 and a 200 day simple moving average of $113.89. The company has a market capitalization of $27.09 billion, a price-to-earnings ratio of 19.19 and a beta of 1.02.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of institutional investors have recently added to or reduced their stakes in XLC. Zullo Investment Group Inc. increased its holdings in Communication Services Select Sector SPDR Fund by 1.0% in the 4th quarter. Zullo Investment Group Inc. now owns 29,559 shares of the company’s stock worth $3,480,000 after acquiring an additional 285 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its holdings in Communication Services Select Sector SPDR Fund by 0.9% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 477,887 shares of the company’s stock valued at $56,257,000 after purchasing an additional 4,473 shares in the last quarter. Capitol Family Office Inc. grew its position in shares of Communication Services Select Sector SPDR Fund by 6.3% in the fourth quarter. Capitol Family Office Inc. now owns 12,507 shares of the company’s stock valued at $1,472,000 after purchasing an additional 738 shares during the period. Merit Financial Group LLC increased its stake in shares of Communication Services Select Sector SPDR Fund by 4.5% during the fourth quarter. Merit Financial Group LLC now owns 61,127 shares of the company’s stock worth $7,196,000 after purchasing an additional 2,652 shares in the last quarter. Finally, Welch Group LLC increased its stake in shares of Communication Services Select Sector SPDR Fund by 27.6% during the fourth quarter. Welch Group LLC now owns 5,084 shares of the company’s stock worth $598,000 after purchasing an additional 1,099 shares in the last quarter.

About Communication Services Select Sector SPDR Fund

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.