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 (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 was the inflows leader with almost $1.6 billion in new investments.
(Click chart to enlarge)
|Company name||% Net assets|
|ExxonMobil Corporation (XOM)||17.81%|
|Chevron Corporation (CVX)||12.66%|
|Schlumberger, Ltd. (SLB)||8.22%|
|Occidental Petroleum Corporation (OXY)||4.45%|
|Apache Corporation (APA)||3.41%|
|Halliburton Company (HAL)||3.18%|
|Anadarko Petroleum Corp. (APC)||2.89%|
|Devon Energy Corporation (DVN)||2.87%|
|National Oilwell Varco, Inc. (NOV)||2.55%|
|Percentage of holdings 63.07%|
You can see Exxon's chart is not very much different from the ETF - quite amazing when an ETF can affect the country's largest stock.
Disclosure: No positions