S&P 500 is showing signs of institutional buying: Buy Imbalance hits +$1.7 billion
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 1.2%. SPY stock last traded at $591.65. Large volume bursts in S&P 500 stocks reached 38.7 million shares worth a total of $6.3 billion in transactions. There was notable buy pressure in the Technology and Consumer Discretionary sectors. Overall, buy volume pressure exceeded sell volume pressure by a 1.8 to 1 ratio. There were 138 stocks that had more buy pressure on balance, and 117 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$1.7 billion in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 61.5%, compared with 38.5% 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 of +$1.7 billion occurred at 2:00 PM. This also represented the peak buy imbalance for the day. The largest spike in imbalance came between 9:30 AM and 9:45 AM when the buy pressure outweighed the sell pressure by a 14.9 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 $955.6 million. 23 of the Technology stocks had positive dollar balance, versus 21 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 5.5 million shares. As of this afternoon, the average purchase price on buy volume was $143.34. The stock has rallied $6.35, indicating strength following the trade.
