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Bank Loan ETF Sees Big Inflows This Week

Analyst Paul Weisbruch of Street One Financial in his daily fund flows update points out some increasing interest in a major bank loan ETF, as well as some interesting options activity in the most well-known bond fund.

There has been some pre-Christmas buying in BKLN (PowerShares Senior Loan Portfolio), with the fund packing in an additional over $415 million this week thanks to creation flows, bringing its YTD total to north of $3.5 billion in.

In other action, we have seen inflows that are likely related in two “EAFE” oriented funds, both VEA (Vanguard FTSE Developed Markets) and EFA (iShares MSCI EAFE) with these two ETFs piling in >$650 million and >$525 million respectively via inflows this week. In what may be related portfolio readjustments, EFAV (iShares MSCI EAFE Minimum Volatility) has seen about $225 million leave the fund during this same time frame. If you recall, minimum volatility funds saw huge interest in the first half of 2016, but their popularity has waned considerably in the second half of the year.

Elsewhere, earlier this week we saw buyers of cheap upside in TLT (iShares 20+ Year Treasury Bond) call options, specifically the February 126 calls (>115,000 contracts traded versus open interest of 6,200 contracts) with TLT trading with a $118 handle presently (about 6.7% OTM).

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 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.

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