By Dmitry Pargamanik
S&P 500 is showing signs of institutional buying: Buy Imbalance reaches +$416.5 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 1.4%. SPY stock last traded at $427.88. Large volume bursts in S&P 500 stocks reached 35.7 million shares worth a total of $4.0 billion in transactions. There was notable buy pressure in the Consumer Discretionary and Industrials sectors. Overall, buy volume pressure surpassed sell volume pressure by a 1.2 to 1 ratio. There were 125 stocks that had more buy pressure on balance, and 85 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$416.5 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 69.8%, compared with 30.2% 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 +$416.5 million, however, the peak buy imbalance for the day occurred at 1:30 PM, when the net buy dollar volume was +$500.2 million. The largest spike in imbalance came between 9:30 AM and 9:45 AM when the buy pressure outweighed the sell pressure by a 3.5 to 1 ratio.
Flow by Sector
Consumer Discretionary had the highest amount of dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $393.4 million. 20 of the Consumer Discretionary stocks had positive dollar balance, versus 6 that were net negative.
TSLA stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts exceeded sell volume by 1.6 million shares. As of this afternoon, the average purchase price on buy volume was $214.71. The stock has gained $7.63, indicating strength following the trade.