S&P 500 ETFs Rake In Assets To End A Strange October (SPY)

Analyst/ETF Trader Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out a great month for S&P 500-linked funds in what is typically a very weak month in terms of performance and fund flows.

We have commented about SPY inflows late into the month of October with the SPX trading near all-time highs, and the fund is not without competition lately in the S&P 500 tracker space. Both VOO (Vanguard S&P 500) and IVV (iShares Core S&P 500) has seen their fair share of inflows in October as well, with the funds attracting $2 billion and $3.6 billion respectively this month.

SPY, as we have mentioned in recent recaps, has pulled in more than $8 billion just month to date.

We remind readers that today is the last trading day of the month, and Happy Halloween to you all. We cannot recall a similar October where not only did global equities close near all-time highs, but we also saw accompanying inflows in major equity index tracker ETFs into the end of the month. Strange times, indeed.

The SPDR S&P 500 ETF Trust (SPY) was trading at $257.20 per share on Tuesday afternoon, up $0.45 (+0.18%). Year-to-date, SPY has gained 16.13%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 125 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.