S&P 500 is showing signs of institutional buying: Buy Imbalance hits +$351.1 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 0.8%. SPY stock last traded at $504.34. Large volume bursts in S&P 500 stocks reached 37.6 million shares worth a total of $5.2 billion in transactions. There was notable buy pressure in the Technology and Health Care sectors. Overall, buy volume pressure exceeded sell volume pressure by a 1.2 to 1 ratio. There were 134 stocks that had more buy pressure on balance, and 110 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$351.1 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 52.4%, compared with 47.6% 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 of +$351.1 million occurred at 2:15 PM. This also represented the peak buy imbalance for the day. The lowest cumulative sell imbalance occurred at 10:15 AM, when the net sell reached -$110.7 million. The largest spike in imbalance came between 10:45 AM and 11:00 AM when the buy pressure outweighed the sell pressure by a 2.0 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 $361.7 million. 20 of the Technology stocks had positive dollar balance, versus 17 that were net negative.
Individual Stocks
FCX stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts outpaced sell volume by 124,340 shares. As of this afternoon, the average purchase price on buy volume was $48.68. Despite the buy pressure, the stock has dropped $1.14 on the day.
