Communication Services Select Sector SPDR Fund Target of Unusually High Options Trading (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) saw some unusual options trading on Friday. Stock traders bought 46,769 put options on the stock. This is an increase of 570% compared to the average daily volume of 6,976 put options.

Communication Services Select Sector SPDR Fund Price Performance

Shares of NYSEARCA XLC traded down $1.07 during midday trading on Friday, hitting $112.04. The stock had a trading volume of 3,588,609 shares, compared to its average volume of 6,662,586. The company’s 50-day simple moving average is $114.93 and its 200 day simple moving average is $115.65. The firm has a market cap of $24.61 billion, a P/E ratio of 19.19 and a beta of 0.97. Communication Services Select Sector SPDR Fund has a fifty-two week low of $101.99 and a fifty-two week high of $120.40.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Atlantic Union Bankshares Corp grew its stake in shares of Communication Services Select Sector SPDR Fund by 93.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 213 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Rossby Financial LCC acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the fourth quarter worth $25,000. Financial Life Planners acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the third quarter worth $27,000. Nvwm LLC grew its stake in shares of Communication Services Select Sector SPDR Fund by 1,035.0% during the fourth quarter. Nvwm LLC now owns 227 shares of the company’s stock worth $27,000 after purchasing an additional 207 shares during the period. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Communication Services Select Sector SPDR Fund during the fourth quarter worth $28,000.

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.