Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Sees Heavy Call Option Buying

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) saw some unusual options trading activity on Tuesday. Investors purchased 5,372 call options on the stock. This is an increase of 69% compared to the typical daily volume of 3,171 call options.

Communication Services Select Sector SPDR Fund Stock Up 0.0%

Shares of XLC traded up $0.01 during mid-day trading on Tuesday, reaching $103.86. The company’s stock had a trading volume of 2,325,469 shares, compared to its average volume of 6,399,274. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 19.19 and a beta of 0.97. The business has a fifty day moving average of $111.42 and a 200 day moving average of $113.22. Communication Services Select Sector SPDR Fund has a 1 year low of $103.20 and a 1 year high of $120.40.

Institutional Investors Weigh In On Communication Services Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XP Advisory US Inc. purchased a new position in shares of Communication Services Select Sector SPDR Fund during the 2nd quarter valued at $30,000. BankChampaign National Association acquired a new stake in Communication Services Select Sector SPDR Fund during the first quarter valued at $32,000. Townsend Asset Management Corp NC ADV purchased a new position in Communication Services Select Sector SPDR Fund in the first quarter valued at about $47,000. Avion Wealth grew its stake in Communication Services Select Sector SPDR Fund by 185.9% in the first quarter. Avion Wealth now owns 486 shares of the company’s stock valued at $53,000 after purchasing an additional 316 shares in the last quarter. Finally, Fairway Wealth LLC purchased a new position in Communication Services Select Sector SPDR Fund in the first quarter valued at about $54,000.

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.