Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today sees not unexpected U.S. equity fund inflows, along with some bullish options activity in a major European ETF.
SPY inflows have built into the market’s strong rally yesterday following President Trump’s speech to Congress, as we have seen over $3.5 billion into SPY in the past forty-eight hours alone.
In what is likely not coincidental, competing S&P 500 tracker funds IVV (iShares Core S&P 500) and VOO (Vanguard S&P 500) have both seen creation activity recently too, with more than $650 million and $400 million entering apiece.
Similarly, QQQ has seen more than $1 billion enter the fund as well, as major indices traded at new all-time highs once again yesterday on strong trading volume to start the month of March. Elsewhere, like we have mentioned in this column recently, not all of the options activity in XLF (SPDR Financials) lately is strictly call buying, as we have seen some nibbling on downside puts here and there in the product lately. The May 22 puts, for instance, have been somewhat active this week in XLF.
Finally, as we have spoken about upside call buying in several European Equity ETFs in recent pieces, we have seen FEZ (SPDR Euro STOXX 50) May 34 call activity this week, which has a similar bullish tone to previous trading that we cited earlier this week.
The SPDR EURO STOXX 50 ETF (NYSE:FEZ) was trading at $34.64 per share on Thursday morning, down $0.12 (-0.35%). Year-to-date, FEZ has gained 3.53%, versus a 6.89% rise in the benchmark S&P 500 index during the same period.
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.