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 SPDR S&P 500 (MX:SPY) (NYSE: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 Vanguard S&P 500 (NYSE:VOO) and ishares S&P 500 (NYSE:IVV) 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 (AX: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.