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The Nasdaq 100 ETF Is Falling — And Seeing Big Outflows

Thursday, November 10, 2016 11:17
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Fund flows are showing us moderate inflows into SPY in the past twenty-four hours after the Trump Presidential victory (+$1.5 billion in) but outflows in QQQ (Nasdaq 100, -$1.4 billion).

Speaking of the QQQ, which is down 1.7% on the day so far, its big yearly winning streak could be in jeopardy if things continue to deteriorate for tech stocks over the next seven weeks. Here are the annual total returns of the fund over the past eight years:

2009: +55%
2010: +20%
2011: +4%
2012: +18%
2013: +37%
2014: +19%
2015: +9%
2016 YTD: +4%

We should note that technology names in general have been punished during the last two sessions, with top QQQ holdings 1) AAPL (10.98%), 2) MSFT (8.38%), 3) AMZN (6.72%), 4) FB (5.46%), 5) GOOG (4.84%) all getting blistered. FB, for example, is trading right around its 200 day moving average for the first time in recent recollection, and hovering on July lows.

Interestingly, XLK (SPDR Technology) has attracted some bargain hunters here with $350 million entering the fund via creation activity and the fund is even more concentrated some of the names we mentioned earlier in the context of QQQ, with top holdings as follows: 1) AAPL (13.74%), 2) MSFT (10.49%), 3) FB (6.83%).

Finally, GDX (Market Vectors Gold Miners) November 27.50 calls traded in good size yesterday (over 170k contracts) on strength in the ETF and Gold itself, but today the fund is getting whacked (down 4% in the early afternoon).

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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