S&P 500 has seen increased institutional buying: Buy Imbalance hits +$453.3 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 0.6%. SPY stock last traded at $684.66. Large volume bursts in S&P 500 stocks reached 32.8 million shares worth a total of $6.4 billion in transactions. There was notable buy pressure in the Consumer Discretionary and Financial sectors. Overall, buy volume pressure exceeded sell volume pressure by a 1.2 to 1 ratio. There were 123 stocks that had more buy pressure on balance, and 81 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$453.3 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 72.2%, compared with 27.8% 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 +$453.3 million, however, the peak buy imbalance for the day occurred at 1:00 PM, when the net buy dollar volume was +$468.7 million. The largest spike in imbalance came between 10:00 AM and 10:15 AM when the sell pressure surpassed the buy pressure by a 4.7 to 1 ratio.
Flow by Sector
Consumer Discretionary had the largest dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $367.8 million. 13 of the Consumer Discretionary stocks had positive dollar balance, versus 9 that were net negative.
Individual Stocks
TSLA stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts outpaced sell volume by 786,466 shares. As of this afternoon, the average purchase price on buy volume was $494.33. The stock has rallied $13.82, indicating strength following the trade.