How do I dynamically change the option from a select dropdown using javascript or jquery?

My html code:

<select class="mdb-select md-form" id="symbol" searchable="Search here..">
    <option value="ABC">ABC</option>
    <option value="XYZ">XYZ</option>
    <option value="SDA">SDA</option>
</select>

This is what I have tried till now:

$('select[id="symbol"] li:contains("XYZ")').trigger('click');