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Large Cap Equity Funds Continue To Attract Major Inflows

Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out relentless investor interest in large cap equity funds, despite some current weakness, and more fixed income outflows prior to an expected interest rate hike next week.

SPY continues to catch a steady bid day after day, in spite of equities being off of their recent all-time highs. More than $5.4 billion has entered the fund via creations lately, and QQQ (Nasdaq 100) has also pulled in over $1 billion during this time frame. Large Cap Equities continue to attract massive amounts of interest this year, seemingly regardless of the daily investing climate.

In other news, we did point out building redemptions in the High Yield Corporate Bond space in yesterday’s recap, specifically with outflows in HYG (iShares HY Corporate Bond), and the size of these flows have increased lately (over $1 billion out). We’ve also seen more than $370 million flowing out of JNK (SPDR High Yield Bond) lately, and these outflows lead all ETPs this week, in fact.

Also on the Fixed Income front, LQD (iShares Investment Grade Corporate Bond) has seen redemptions this week as well, but to a lesser degree, with about $200 million leaving the fund since Monday.

The PowerShares QQQ ETF (NASDAQ:QQQ) was trading at $130.86 per share on Thursday afternoon, up $0.12 (+0.09%). Year-to-date, QQQ has gained 10.45%, versus a 5.96% rise in the benchmark S&P 500 index during the same period.

QQQ currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 33 ETFs in the Large Cap Growth 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 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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