Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Trading Down 0.4% – Here’s What Happened

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) shares traded down 0.4% on Thursday . The company traded as low as $98.55 and last traded at $98.65. 3,319,256 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 4,307,512 shares. The stock had previously closed at $99.09.

Communication Services Select Sector SPDR Fund Stock Performance

The company has a market cap of $20.97 billion, a price-to-earnings ratio of 18.99 and a beta of 1.05. The company has a 50-day simple moving average of $100.65 and a 200-day simple moving average of $96.52.

Communication Services Select Sector SPDR Fund Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 26th. Investors of record on Monday, March 24th were issued a dividend of $0.2879 per share. The ex-dividend date of this dividend was Monday, March 24th. This is a positive change from Communication Services Select Sector SPDR Fund’s previous dividend of $0.22.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of XLC. Financial Counselors Inc. lifted its stake in shares of Communication Services Select Sector SPDR Fund by 1.8% in the third quarter. Financial Counselors Inc. now owns 6,812 shares of the company’s stock valued at $616,000 after purchasing an additional 120 shares during the period. Icon Wealth Advisors LLC purchased a new position in Communication Services Select Sector SPDR Fund in the third quarter valued at about $258,000. Encompass More Asset Management lifted its position in shares of Communication Services Select Sector SPDR Fund by 4.3% during the 3rd quarter. Encompass More Asset Management now owns 12,675 shares of the company’s stock valued at $1,146,000 after acquiring an additional 524 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Communication Services Select Sector SPDR Fund during the 3rd quarter worth approximately $684,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Communication Services Select Sector SPDR Fund by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 602,293 shares of the company’s stock worth $54,447,000 after acquiring an additional 125,982 shares during the period.

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.