Today’s money flows update from analyst Paul Weisbruch includes continued inflows into equity and technology funds, and a flight away from oil & gas and Treasuries.
Late last week, we saw not only inflows into the Tech-heavy QQQ (Nasdaq 100) but also to Small-Caps (IWM), as we noted, and MidCaps MDY (SPDR S&P Midcap 400) and IJH (iShares Core S&P Mid-Cap). MDY and IJH reeled in about $560 million and $480 million accordingly, which are very substantial flows for both of these ETFs.
MDY and IJH were both trading lower this morning, off around 0.7%, amid a wider equities pullback, but it’ll be interesting to see if these major inflows continue over the next week or so.
Elsewhere, we saw some evident profit taking in XOP (SPDR Oil & Gas Exploration & Production), as the ETF has stalled above $40 after a rally throughout most of November. About $400 million has left XOP due to redemption pressure recently, which is a major exodus from the approximately $2 billion exchange traded fund.
In other action, selling pressure in Bonds amid the spike in interest rates prior to the next FOMC rate decision meeting in December has prompted some to sell TLT (iShares 20+ Year Treasury Bond) prior to the end of the month and we have seen over $530 million leave the fund lately.
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.
Paul 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 ETFTrends.com 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.