Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Stock Price Down 0.4% – What’s Next?

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC)’s stock price traded down 0.4% during mid-day trading on Thursday . The stock traded as low as $98.55 and last traded at $98.65. 3,319,256 shares were traded during 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 firm has a market capitalization of $20.97 billion, a PE ratio of 18.99 and a beta of 1.05. The firm’s 50-day moving average is $100.65 and its 200 day moving average is $96.52.

Communication Services Select Sector SPDR Fund Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of XLC. Raymond James Financial Inc. purchased a new position in Communication Services Select Sector SPDR Fund during the fourth quarter worth $427,652,000. State Street Corp boosted its stake in shares of Communication Services Select Sector SPDR Fund by 226.8% during the third quarter. State Street Corp now owns 2,462,512 shares of the company’s stock valued at $222,611,000 after acquiring an additional 1,709,028 shares during the last quarter. Maven Securities LTD increased its position in Communication Services Select Sector SPDR Fund by 104.1% during the 3rd quarter. Maven Securities LTD now owns 50,512 shares of the company’s stock worth $4,566,000 after purchasing an additional 1,276,272 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in Communication Services Select Sector SPDR Fund by 29.8% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 4,083,333 shares of the company’s stock valued at $395,307,000 after purchasing an additional 936,637 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Communication Services Select Sector SPDR Fund by 8.9% in the 4th quarter. JPMorgan Chase & Co. now owns 9,663,156 shares of the company’s stock valued at $935,490,000 after purchasing an additional 787,017 shares during 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.