S&P 500 is showing signs of institutional buying: Buy Imbalance hits +$2.1 billion
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 1.0%. SPY stock last traded at $683.79. Large volume bursts in S&P 500 stocks reached 72.3 million shares worth a total of $10.1 billion in transactions. There was notable buy pressure in the Consumer Discretionary and Technology sectors. Overall, buy volume pressure surpassed sell volume pressure by a 1.6 to 1 ratio. There were 134 stocks that had more buy pressure on balance, and 147 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$2.1 billion in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 66.8%, compared with 33.2% 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 of +$2.1 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 2.6 to 1 ratio.
Flow by Sector
Technology experienced the biggest dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $796.8 million. 28 of the Technology stocks had positive dollar balance, versus 25 that were net negative.
Individual Stocks
HBAN stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts outpaced sell volume by 164,970 shares. As of this afternoon, the average purchase price on buy volume was $15.49. Despite the buy pressure, the stock has dropped $0.60 on the day.