S&P 500 is showing signs of institutional buying: Buy Imbalance sits at +$999.4 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is unchanged. SPY stock last traded at $611.92. Large volume bursts in S&P 500 stocks reached 58.4 million shares worth a total of $7.0 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 1.3 to 1 ratio. There were 151 stocks that had more buy pressure on balance, and 140 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$999.4 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 56.3%, compared with 43.7% 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 +$999.4 million, however, the peak buy imbalance for the day occurred at 1:30 PM, when the net buy dollar volume was +$1.0 billion. The largest spike in imbalance came between 11:00 AM and 11:15 AM when the buy pressure outweighed the sell pressure by a 2.2 to 1 ratio.
Flow by Sector
Technology had the largest dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $917.0 million. 32 of the Technology stocks had positive dollar balance, versus 20 that were net negative.
Individual Stocks
SMCI stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts exceeded sell volume by 4.2 million shares. As of this afternoon, the average purchase price on buy volume was $61.17. The stock has rallied $9.78, indicating strength following the trade.
