By Dmitry Pargamanik
S&P 500 has seen increased institutional buying: Buy Imbalance hits +$866.7 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 1.3%. SPY stock last traded at $415.64. Large volume bursts in S&P 500 stocks reached 46.2 million shares worth a total of $4.9 billion in transactions. There was notable buy pressure in the Technology and Consumer Discretionary sectors. Overall, buy volume pressure outpaced sell volume pressure by a 1.4 to 1 ratio. There were 154 stocks that had more buy pressure on balance, and 104 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$866.7 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 51.5%, compared with 48.5% being transacted in the dark pool. To learn more about large volume trades, check out our help section.
Daily Chart: Large Volume Bursts Over Time
As you can see from the chart below, the most recent cumulative buy imbalance is +$866.7 million, however, the peak buy imbalance for the day occurred at 2:00 PM, when the net buy dollar volume was +$871.5 million. The largest spike in imbalance came between 1:45 PM and 2:00 PM when the buy pressure outweighed the sell pressure by a 4.9 to 1 ratio.
Flow by Sector
Technology experienced the highest amount of dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $543.4 million. 31 of the Technology stocks had positive dollar balance, versus 10 that were net negative.
Individual Stocks
TSLA stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts outpaced sell volume by 1.4 million shares. As of this afternoon, the average purchase price on buy volume was $172.16. The stock price increased $7.28, indicating strength following the trade.
