An astounding statistic on CNBC today about how heavy the flows in February are into 1 fund. This also showcases why so many stocks, especially of the large cap kind within a sector, move together. The hot money in the hedge fund world all piled into Energy Select SPDR (NYSE:XLE) in February, with nearly 1 of every 4 dollars headed this way.
- Net inflows into exchange-traded funds in February were $7.51 billion . XLE (NYSE:XLE) was the inflows leader with almost $1.6 billion in new investments.
|Company name||% Net assets|
|ExxonMobil Corporation (NYSE:XOM)||17.81%|
|Chevron Corporation (NYSE:CVX)||12.66%|
|Schlumberger, Ltd. (NYSE:SLB)||8.22%|
|Occidental Petroleum Corporation||(NYSE:OXY) 4.45%|
|Apache Corporation (NYSE:APA)||3.41%|
|Halliburton Company (NYSE:HAL)||3.18%|
|Anadarko Petroleum Corp. (NYSE:APC)||2.89%|
|Devon Energy Corporation (NYSE:DVN)||2.87%|
|National Oilwell Varco, Inc. (NYSE:NOV)||2.55%|
|Percentage of holdings 63.07%|
You can see Exxon’s (NYSE:XOM) chart is not very much different from the ETF – quite amazing when an ETF can affect the country’s largest stock.
This is a guest post written by Trader Mark who runs the blog Fund My Mutual Fund.