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

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the target of some unusual options trading on Monday. Investors purchased 46,995 put options on the stock. This is an increase of approximately 998% compared to the typical volume of 4,280 put options.

Institutional Trading of Communication Services Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. raised its holdings in Communication Services Select Sector SPDR Fund by 7.2% in the 4th quarter. NBC Securities Inc. now owns 1,312 shares of the company’s stock valued at $155,000 after acquiring an additional 88 shares during the period. Crewe Advisors LLC boosted its holdings in shares of Communication Services Select Sector SPDR Fund by 24.2% during the fourth quarter. Crewe Advisors LLC now owns 457 shares of the company’s stock worth $54,000 after acquiring an additional 89 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Communication Services Select Sector SPDR Fund by 5.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,836 shares of the company’s stock worth $217,000 after acquiring an additional 90 shares during the period. Beaumont Financial Advisors LLC grew its position in shares of Communication Services Select Sector SPDR Fund by 1.0% in the first quarter. Beaumont Financial Advisors LLC now owns 9,348 shares of the company’s stock valued at $1,036,000 after purchasing an additional 91 shares during the last quarter. Finally, Penobscot Wealth Management grew its position in shares of Communication Services Select Sector SPDR Fund by 1.6% in the first quarter. Penobscot Wealth Management now owns 5,733 shares of the company’s stock valued at $636,000 after purchasing an additional 93 shares during the last quarter.

Communication Services Select Sector SPDR Fund Price Performance

NYSEARCA:XLC opened at $109.67 on Wednesday. Communication Services Select Sector SPDR Fund has a one year low of $105.03 and a one year high of $120.40. The company has a market cap of $22.45 billion, a P/E ratio of 19.19 and a beta of 0.98. The firm’s fifty day moving average price is $111.03 and its two-hundred day moving average price is $114.03.

Communication Services Select Sector SPDR Fund Company Profile

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.