This article first appeared on GuruFocus.
ETFs sold a net $43.5 million of SLB Ltd. (SLB) in Friday’s session, though more funds traded the other way: 28 ETFs were buyers versus 12 sellers, with the selling concentrated in larger amounts. The move reversed two straight days of net buying, which totaled $13.7 million on Oct. 29 and $5.7 million on Oct. 28. It was the first net-selling day in the past five sessions, following a $9.2 million outflow on Oct. 27. ETF activity left 112 funds holding the stock unchanged.
For the full record of ETF and guru buying and selling in SLB, see the SLB guru trades page.
Which ETFs sold SLB on Friday?
The largest sellers by dollar value were WCMI ($48.9 million), VFMO ($9.8 million) and VFMF ($1.9 million). In all, 28 ETFs added shares and 12 cut them.
WCMI drove the outflow, cutting 910,334 shares for a $48.9 million reduction in value, while VFMO shed 181,650 shares worth $9.8 million and VFMF trimmed 35,700 shares worth $1.9 million. Smaller reductions came from IWB, EIPX, USCL, USCA and HCMT. SLB operates in the Energy sector within Oil & Gas Equipment & Services and carries a market cap of $77.2 billion.
Have ETFs been buying or selling SLB lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does SLB do?
SLB (formerly Schlumberger) is the world’s largest oilfield services company, providing technology and expertise for reservoir characterization, drilling, well construction, and production across more than 100 countries.
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Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
