Traders Purchase Large Volume of Communication Services Select Sector SPDR Fund Put Options (XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the target of some unusual options trading activity on Thursday. Stock traders acquired 5,264 put options on the company. This represents an increase of approximately 2,057% compared to the average volume of 244 put options.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Communication Services Select Sector SPDR Fund by 373.4% in the 4th quarter. Bank of America Corp DE now owns 18,970,954 shares of the company’s stock worth $783,121,000 after acquiring an additional 14,963,888 shares during the period. BlackRock Inc. bought a new position in Communication Services Select Sector SPDR Fund in the 4th quarter worth $135,451,000. Lockheed Martin Investment Management Co. raised its holdings in Communication Services Select Sector SPDR Fund by 0.6% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 1,549,200 shares of the company’s stock worth $63,951,000 after acquiring an additional 9,000 shares during the period. Envestnet Asset Management Inc. bought a new position in Communication Services Select Sector SPDR Fund in the 3rd quarter worth $67,073,000. Finally, Janney Montgomery Scott LLC raised its holdings in Communication Services Select Sector SPDR Fund by 5.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,193,224 shares of the company’s stock worth $49,256,000 after acquiring an additional 61,421 shares during the period.

Communication Services Select Sector SPDR Fund stock opened at $47.14 on Friday. Communication Services Select Sector SPDR Fund has a 1-year low of $38.97 and a 1-year high of $52.11.

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