S&P 500 is showing signs of institutional buying: Buy Imbalance hits +$713.8 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 0.4%. SPY stock last traded at $584.77. Large volume bursts in S&P 500 stocks reached 31.4 million shares worth a total of $4.4 billion in transactions. There was notable buy pressure in the Communication Services and Consumer Staples sectors. Overall, buy volume pressure exceeded sell volume pressure by a 1.4 to 1 ratio. There were 121 stocks that had more buy pressure on balance, and 109 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$713.8 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 54.5%, compared with 45.5% 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 +$713.8 million, however, the peak buy imbalance for the day occurred at 1:15 PM, when the net buy dollar volume was +$730.0 million. The largest spike in imbalance came between 11:15 AM and 11:30 AM when the buy pressure outweighed the sell pressure by a 6.2 to 1 ratio.
Flow by Sector
Technology had the highest amount of dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $28.5 million. 15 of the Technology stocks had positive dollar balance, versus 25 that were net negative.
Individual Stocks
NVDA stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts outpaced sell volume by 645,829 shares. As of this afternoon, the average purchase price on buy volume was $138.17. The stock has rallied $1.37, indicating strength following the trade.
