S&P 500 is showing signs of institutional buying: Buy Imbalance reaches +$959.8 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 2.3%. SPY stock last traded at $646.75. Large volume bursts in S&P 500 stocks reached 54.5 million shares worth a total of $8.5 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 1.3 to 1 ratio. There were 153 stocks that had more buy pressure on balance, and 143 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$959.8 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 52.7%, compared with 47.3% 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 +$959.8 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 12:30 PM and 12:45 PM when the buy pressure outweighed the sell pressure by a 13.0 to 1 ratio.
Flow by Sector
Technology experienced the most dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $857.8 million. 29 of the Technology stocks had positive dollar balance, versus 20 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 2.0 million shares. As of this afternoon, the average purchase price on buy volume was $170.85. The stock has rallied $7.76, indicating strength following the trade.