Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Trading Down 0.2% – Time to Sell?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s share price fell 0.2% during trading on Thursday . The company traded as low as $116.60 and last traded at $116.81. 6,495,554 shares changed hands during trading, an increase of 18% from the average session volume of 5,519,737 shares. The stock had previously closed at $117.07.

Communication Services Select Sector SPDR Fund Stock Performance

The company has a market capitalization of $27.00 billion, a price-to-earnings ratio of 19.19 and a beta of 1.02. The firm has a 50-day simple moving average of $114.49 and a two-hundred day simple moving average of $110.99.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

Large investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC boosted its position in Communication Services Select Sector SPDR Fund by 634,190.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 150,314,204 shares of the company’s stock valued at $16,313,601,000 after buying an additional 150,290,506 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Communication Services Select Sector SPDR Fund by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 10,786,035 shares of the company’s stock valued at $1,276,743,000 after acquiring an additional 657,306 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Communication Services Select Sector SPDR Fund by 61.1% in the second quarter. Envestnet Asset Management Inc. now owns 8,497,100 shares of the company’s stock valued at $922,190,000 after purchasing an additional 3,223,946 shares during the period. Raymond James Financial Inc. boosted its holdings in Communication Services Select Sector SPDR Fund by 29.4% in the second quarter. Raymond James Financial Inc. now owns 5,505,595 shares of the company’s stock valued at $597,522,000 after purchasing an additional 1,251,920 shares during the period. Finally, Barclays PLC grew its stake in Communication Services Select Sector SPDR Fund by 148.3% during the 3rd quarter. Barclays PLC now owns 5,048,892 shares of the company’s stock worth $597,637,000 after purchasing an additional 3,015,840 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.