S&P 500 is showing signs of institutional buying: Buy Imbalance hits +$22.8 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 $566.05. Large volume bursts in S&P 500 stocks reached 34.7 million shares worth a total of $4.3 billion in transactions. There was notable buy pressure in the Technology and Communication Services sectors. Overall, buy volume pressure and sell volume pressure were fairly similar during trading. There were 118 stocks that had more buy pressure on balance, and 112 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$22.8 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 56.7%, compared with 43.3% 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 +$22.8 million, however, the peak buy imbalance for the day occurred at 10:45 AM, when the net buy dollar volume was +$377.2 million. The lowest cumulative sell imbalance occurred at 1:30 PM, when the net sell reached -$39.4 million. The largest spike in imbalance came between 12:15 PM and 12:30 PM when the sell pressure surpassed the buy pressure by a 19.2 to 1 ratio.
Flow by Sector
Technology had the biggest dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $182.7 million. 26 of the Technology stocks had positive dollar balance, versus 16 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 exceeded sell volume by 897,927 shares. As of this afternoon, the average purchase price on buy volume was $119.49. The stock has gained $0.99, indicating strength following the trade.
