Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out some big inflows into a investment grade corporate bond ETF, and continued flows out of junk bond funds.
As we mentioned in recaps last week, most of the ETF/Index options activity was concentrated on portfolio managers adjusting calendar hedges going into last Friday’s options expiration. In fund flows action, we saw some decent inflows in LQD (iShares Investment Grade Corporate Bond) topping >$730 million at the end of last week leading all ETPs in net inflows.
Of course, this is not a huge notional amount of inflow dollars, reflective of slower trading going into the end of last week in the marketplace in general.
A competing Corporate Bond ETF, SCPB (SPDR Barclays Short Term Corporate Bond) saw net outflows last week in the >$485 million realm. Additionally, High Yield Corporate Bond ETFs including HYG (iShares HY Corporate Bond) and JNK (SPDR Barclays HY Bond) also saw outflows last week with $650 million and $275 million exiting these funds respectively.
The iShares IBoxx $ Investment Grade Corporate Bond Fund (NYSE:LQD) was trading at $117.87 per share on Monday morning, up $0.55 (+0.47%). Year-to-date, LQD has gained 0.59%, versus a 0.94% rise in the benchmark S&P 500 index during the same period.
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.
Paul 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.