Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) Reaches New 12-Month High at $85.63

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) saw its shares hit a new 52-week high during trading on Tuesday, reaching $85.63 before closing at $85.48. The stock had a trading volume of 806,609 shares. The firm has a 50-day moving average of $82.46 and a 200-day moving average of $79.18, with a market capitalization of $18.81 billion and a P/E ratio of 29.67. Several institutional investors and hedge funds have shown interest in the stock, with notable increases in their positions. The Communication Services Select Sector SPDR Fund primarily invests in communication services equity and tracks a market-cap-weighted index of US telecommunication and media & entertainment components of the S&P 500 index. Managed by State Street, the fund was launched on June 18, 2018. Investors can stay updated on the latest news and analyst ratings for the fund by subscribing to MarketBeat.com’s daily email newsletter.