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Both High And Low Beta S&P 500 Funds See Major Outflows

Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today focuses on outflows from several S&P 500 linked funds, along with relentless upside options activity for financials.

Recent inflows into SPY have turned into some profit taking to end this week, as we now see the world’s largest ETF experiencing net outflows in the past twenty four hours of about $1.5 billion. Of course, this can change on a dime, as we have seen some decent flows on either side in SPY lately, with the SPX trading at or near all-time highs day after day.

To a lesser degree, an S&P 500 “Low Volatility” product from PowerShares known as SPLV (S&P 500 Low Volatility Portfolio) has also seen some position trimming this week, with about $350 million leaving the fund. Interestingly, its sister ETF, SPHB (PowerShares S&P 500 High Beta Portfolio), has also seen net outflows lately, with about $120 million leaving the fund.

Finally, as we had mentioned earlier this week and in previous recaps, we continue to see upside demand for XLF (SPDR Financial) calls, specifically with the March 24 strikes trading in decent size this week (YTD inflows of over $1.4 billion).

The S&P 500 Low Volatility Portfolio (NYSE:SPLV) was trading at $43.44 per share on Friday morning, up $0.09 (+0.21%). Year-to-date, SPLV has gained 4.47%, versus a 5.51% rise in the benchmark S&P 500 index during the same period.

SPLV currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #8 of 75 ETFs in the Large Cap Value ETFs category.

Meanwhile, the PowerShares S&P 500 High Beta Portfolio (NYSE:SPHB) was trading at $37.75 per share on Friday morning, down $0.30 (-0.79%). Year-to-date, SPHB has gained 3.17%. SPHB currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #10 of 25 ETFs in the Mid Cap Blend ETFs category.

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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