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Inflows Return To QQQ As Major Tech Stocks Recover

Wednesday, November 23, 2016 11:25
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Analyst Paul Weisbruch brings us his daily fund flows update, which today includes a recovery in some beleaguered tech names, as well as the closure of some bearish bets on oil.

The Large Cap tech names that have been blistered since Trump’s election, such as top weightings in QQQ (Nasdaq 100 ETF) like 1) AAPL (10.98%), 2) MSFT (8.38%), 3) AMZN (6.72%), 4) FB (5.46%), and 5) GOOG (4.84%), have gotten a bit of a lift early this week after pivoting at multi-month lows just last week. Amazon, for example, is up 4.3% over the past five sessions, while Facebook has gained 3.5% in that time frame.

Likely as a result of the better tech stock performance, buyers have been around in QQQ itself as well, pouring about $1.4 billion into the fund via creation flows this week.

Elsewhere, fund flows have calmed down quite a bit when compared to the multi-billion dollar flows we had witnessed across several products into the “Trump Rally” following election day. One wonders if the massive rally can sustain itself through the end of the year, and if this is a “pre-Santa Claus” rally. Only time will tell, of course.

Meanwhile, we have seen closing selling of December 36 puts in XOP (SPDR Oil & Gas Exploration & Production) with the ETF rallying on the recent spike in crude oil prices.

Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch
paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.

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