ETFs Are Net Sellers of Goldman Sachs (GS) on Nov. 3
This article first appeared on GuruFocus.
ETFs sold $27.5 million in Goldman Sachs Group Inc/The (GS) stock on Tuesday, Nov. 3, a net outflow even though more funds traded the other way: 31 ETFs bought shares while 13 sold, but in smaller amounts. Another 128 ETFs held their positions. The selling broke a one-day buying stretch, after ETFs added $17.9 million on Nov. 2. Over the prior five sessions, ETF activity has alternated, with net outflows of $4.8 million on Oct. 30 and $12.3 million on Oct. 28, and inflows of $36.8 million on Oct. 29.
Every ETF and guru trade in GS is tracked on the GS guru trades page.
Which ETFs sold GS on Tuesday?
The largest sellers by dollar value were DIA ($31.9 million), XLF ($5.5 million) and KBWB ($1.7 million). In all, 31 ETFs added shares and 13 cut them.
DIA drove the move, cutting 35,604 shares for a $31.9 million reduction in value, a 0.69% stake change at a 10.28% weight. XLF trimmed 6,180 shares ($5.5 million, 3.24% weight) and KBWB cut 1,850 shares ($1.7 million, 7.48% weight). Smaller reductions came from SSO (-$1.1 million), SPYG (-$0.5 million), MTUM (-$0.4 million), UDOW (-$0.3 million) and SPYV (-$0.2 million). Goldman Sachs operates in the Financial Services sector, within the Capital Markets industry, and carries a market cap of $267.7 billion.
Have ETFs been buying or selling GS lately?
Over the last 5 reported days, ETFs were net buyers on 2 and net sellers on 3, so the recent trend is mostly selling.
What does GS do?
Goldman Sachs is a leading global financial institution delivering a broad range of financial services to corporations, financial institutions, governments, and individuals. It manages its activities in three segments.
Goldman Sachs reported $70.87 billion in trailing-12-month revenue, up 26.4% over one year, with a 31.3% net margin. It trades at a P/E of 13.34, P/B of 2.43 and P/S of 4.01, with a market cap of $267.7 billion. Its GF Score is 86, and the GF Value of $930.65 compares with a price of $928.00. The dividend yield is 2.02%, and the stock is up 7.12% year to date.