Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Hits New 52-Week High – Should You Buy?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $97.82 and last traded at $97.82, with a volume of 165228 shares traded. The stock had previously closed at $96.88.

Communication Services Select Sector SPDR Fund Stock Up 0.4 %

The firm has a market cap of $21.39 billion, a PE ratio of 29.67 and a beta of 1.15. The company has a 50-day simple moving average of $92.20 and a two-hundred day simple moving average of $87.51.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of hedge funds have recently made changes to their positions in XLC. Compagnie Lombard Odier SCmA purchased a new stake in Communication Services Select Sector SPDR Fund during the third quarter worth about $25,000. Sound Income Strategies LLC purchased a new stake in shares of Communication Services Select Sector SPDR Fund during the 3rd quarter worth approximately $25,000. Gradient Investments LLC bought a new stake in shares of Communication Services Select Sector SPDR Fund in the 2nd quarter worth approximately $26,000. Anchor Investment Management LLC purchased a new position in Communication Services Select Sector SPDR Fund in the second quarter valued at approximately $29,000. Finally, MCF Advisors LLC bought a new position in Communication Services Select Sector SPDR Fund during the third quarter valued at $32,000.

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.