December Brings $11 Billion Into The SPDR S&P 500 ETF (SPY) Already

Analyst/ETF Trader Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today looks at massive inflows month-to-date into the world’s largest ETF, and continued bleakness for long volatility ETPs.

As we commented last week, portfolio managers have been “Buying The Dip,” evident at least from short-term fund flows into SPY reeling in nearly $11 billion via creation flows just month-to-date. The rally in the past couple sessions has put the SPX right near another new all-time high, as we see SPY trading today at around $266.07 (with its all-time high of $266.80 certainly within shouting distance).

It may go without saying that “Long Volatility ETPs” today are trading at yet new all-time lows (VXX, UVXY, TVIX) even though the VIX itself it still substantially higher even at $9.56 then during its brief plunge below $9 in late November.

Market technician David Chojnacki points to technical resistance in SPX up above at 2662, 2665 and 2675 to name some of the closest levels, and we will see throughout the week how stocks function around these levels to potentially gauge if this rally has long legs here.

The SPDR S&P 500 ETF Trust (SPY) was trading at $266.09 per share on Monday afternoon, up $0.58 (+0.22%). Year-to-date, SPY has gained 20.14%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 139 ETFs in the Large Cap Blend ETFs category.


Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch

paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and ETFTrends.com for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.