This article first appeared on GuruFocus.
On Wednesday, 45 ETFs were buying Marathon Petroleum (MPC) versus 15 selling, yet the net dollar value of ETF activity came to a sale of $20.1 million, meaning more funds traded the other way but in smaller amounts. The move follows a $6.5 million net purchase on Nov. 3 and a $7.3 million net sale on Nov. 2. Before that, ETF flows were positive, at $18.6 million on Oct. 30 and $10.2 million on Oct. 29. The selling streak now stands at 1 day.
Track the latest ETF buying and selling trends and search funds in the GuruFocus ETF Screener.
For the full record of ETF and guru buying and selling in MPC, see the MPC guru trades page.
Which ETFs sold MPC on Wednesday?
The largest sellers by dollar value were XLE ($14.2 million), SPY ($13.0 million) and IXC ($3.6 million). In all, 45 ETFs added shares and 15 cut them.
Energy Select Sector SPDR (XLE) led the move with a $14.2 million decrease in value, cutting its stake by 0.75% to 4,801,361 shares at a 4.53% weight. SPDR S&P 500 (SPY) reduced value by $13.0 million, a 0.95% stake change, while iShares Global Energy (IXC) shed $3.6 million, a 3.88% cut. ProShares Ultra S&P500 (SSO) and Goldman Sachs MarketBeta U.S. Equity (GSUS) trimmed $1.5 million and $0.3 million, respectively. Marathon Petroleum operates in the Energy sector, within Oil & Gas Refining & Marketing, and carries a market cap of $102.7 billion.
Have ETFs been buying or selling MPC 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 MPC do?
Marathon Petroleum is the largest oil refiner in the United States, operating 13 refineries with roughly 3 million barrels per day of crude capacity across the Gulf Coast, Midwest, and West Coast, including the nation’s largest refinery in Galveston Bay, Texas.
Marathon Petroleum reported trailing-12-month revenue of $174.94 billion, up 41.6% over one year, with a gross margin of 14.6% and a
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
