S&P 500 is showing signs of institutional buying: Buy Imbalance reaches +$1.6 billion
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 3.1%. SPY stock last traded at $581.93. Large volume bursts in S&P 500 stocks reached 64.9 million shares worth a total of $10.0 billion in transactions. There was notable buy pressure in the Technology and Health Care sectors. Overall, buy volume pressure surpassed sell volume pressure by a 1.4 to 1 ratio. There were 177 stocks that had more buy pressure on balance, and 134 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$1.6 billion in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 61.7%, compared with 38.3% 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 of +$1.6 billion occurred at 2:00 PM. This also represented the peak buy imbalance for the day. The lowest cumulative sell imbalance occurred at 9:45 AM, when the net sell reached -$241.0 million. The largest spike in imbalance came between 11:15 AM and 11:30 AM when the buy pressure outweighed the sell pressure by a 3.5 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 $748.2 million. 36 of the Technology stocks had positive dollar balance, versus 18 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 2.4 million shares. As of this afternoon, the average purchase price on buy volume was $121.91. The stock has rallied $6.20, indicating strength following the trade.
