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QQQ Benefits From End-Of-Quarter Portfolio Rebalancing

Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out the winners and losers of the traditional quarter-end portfolio moves that we tend to see on Wall Street.

It’s all about end-of-the-quarter portfolio rebalancing, or what some refer to as “window dressing” in trading lately, and the ETFs that we have mentioned here in recent pieces continue to see accelerated activity.

We mentioned Mid-Cap Equity, for example, yesterday in our ETF Chart Of The Day. Outflows in IJH (iShares Core S&P Mid-Cap) have increased, with the fund losing more than $1 billion in recent sessions. These flows come amid noticeable underperformance in the first quarter versus say the Large Cap SPYMDY (SPDR S&P Midcap 400) has not been spared either, with about $750 million leaving the fund via redemptions here.

On the other hand, Small Caps have caught a giant bid with more than $2.2 billion flowing into IWM (iShares Russell 2000) during the past couple days. Yet competing SmallCap ETFs like VB (Vanguard) and IJR (iShares) have seen outflows during this time period (perhaps some swaps taking place?).

Finally, QQQ (PowerShares QQQ) has similarly attracted a notable over $2 billion lately, with the top holdings being of course 1) AAPL (10.89%), 2) MSFT (8.46%), 3) AMZN (6.59%).

The PowerShares QQQ ETF (NASDAQ:QQQ) was trading at $131.15 per share on Tuesday morning, up $0.31 (+0.24%). Year-to-date, QQQ has gained 10.69%, versus a 4.92% 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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