Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out major inflows into both domestic and foreign equity funds, along with big interest in the largest gold ETF this week.
U.S., Ex-U.S. Funds Proving Popular
DIA (SPDR DJIA) continues to attract new monies on more “all-time highs” in them markets — and the Dow Jones Industrial Average in particular — with more than $1.1 billion flowing into the fund lately.
In other activity, some “EAFE” linked funds, specifically IEFA (iShares Core MSCI EAFE) and VEA (Vanguard FTSE Developed Markets) have pulled in about $400 million apiece in new assets via creation activity this week.
Gold Still Glitters
Another takeaway this week has been the $1 billion that has entered GLD (SPDR Gold). Gold prices have rallied mostly since late January with a bit of a stutter-step yesterday from recent highs, and GLD is now up around 7% year-to-date.
Elsewhere, ETF/Index option trading was rather uneventful yesterday on new highs in equities (SPX closed above 2307 for instance, and has traded higher than 2313 this morning. Trading volume, however, in SPY for example has been lackluster the entire week as it appears folks, myself included, may still be hungover from last Sunday’s thrilling Super Bowl finale.
The SPDR Gold Trust ETF (NYSE:GLD) was trading at $117.26 per share on Friday morning, down $0.03 (-0.03%). Year-to-date, GLD has gained 6.98%, versus a 3.42% rise in the benchmark S&P 500 index during the same period.
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.