Investors Purchase High Volume of Call Options on Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) saw unusually large options trading activity on Thursday. Traders acquired 15,568 call options on the company. This is an increase of approximately 294% compared to the average volume of 3,948 call options.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of XLC. Patten & Patten Inc. TN lifted its stake in Communication Services Select Sector SPDR Fund by 5.4% during the first quarter. Patten & Patten Inc. TN now owns 24,125 shares of the company’s stock worth $1,970,000 after purchasing an additional 1,240 shares during the last quarter. TIAA Trust National Association grew its position in Communication Services Select Sector SPDR Fund by 682.6% during the 1st quarter. TIAA Trust National Association now owns 98,101 shares of the company’s stock worth $8,011,000 after acquiring an additional 85,565 shares during the last quarter. Cornerstone Advisors LLC purchased a new position in shares of Communication Services Select Sector SPDR Fund during the 1st quarter worth approximately $2,393,000. Spirepoint Private Client LLC bought a new stake in shares of Communication Services Select Sector SPDR Fund during the first quarter valued at approximately $746,000. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of Communication Services Select Sector SPDR Fund during the 1st quarter valued at about $710,000.

Communication Services Select Sector SPDR Fund Price Performance

XLC stock traded down $0.74 on Friday, reaching $96.35. The company’s stock had a trading volume of 181,842 shares, compared to its average volume of 4,803,979. The firm has a fifty day moving average of $90.61 and a two-hundred day moving average of $86.60. The company has a market capitalization of $21.09 billion, a P/E ratio of 29.67 and a beta of 1.15. Communication Services Select Sector SPDR Fund has a 52 week low of $68.51 and a 52 week high of $97.62.

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.