This article first appeared on GuruFocus.
American Electric Power (AEP) saw its first day of net ETF selling in three sessions on Tuesday, with a net outflow of $19.0 million. More funds traded the other way, with 27 ETFs buying versus 10 selling, but the sellers moved larger amounts. That followed net inflows of $47.0 million on Monday and $11.9 million on Nov. 6. ETF activity in the stock has been choppy, with a $24.8 million outflow on Nov. 5 and a $2.7 million inflow on Nov. 4.
See all ETF and guru trades in AEP on its AEP guru trades page.
Which ETFs sold AEP on Tuesday?
The largest sellers by dollar value were XLU ($34.2 million), IVV ($0.4 million) and IDU ($0.2 million). In all, 27 ETFs added shares and 10 cut them.
The Utilities Select Sector SPDR Fund (XLU) drove the move, cutting 267,344 shares for a $34.2 million reduction, a 2.77% drop in its stake and 5.08% of its portfolio. iShares Core S&P 500 (IVV) trimmed 2,844 shares for $0.4 million, while iShares U.S. Utilities (IDU) shed 1,879 shares for $0.2 million. Smaller reductions came from USMV, IFRA, SPYV, IWL and RWL. American Electric Power is a regulated electric utility in the Utilities sector with a market cap of $70.4 billion.
Have ETFs been buying or selling AEP 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 AEP do?
American Electric Power Co Inc is a large investor-owned electric utility holding company in the United States. Through its subsidiaries, it generates, transmits, and distributes electricity to millions of re
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
