This article first appeared on GuruFocus.
XLU drove the move, cutting its Constellation Energy (CEG) stake by 161,700 shares, worth $43.3 million. On Tuesday, Nov. 10, 32 ETFs bought CEG shares while 13 sold, yet the sellers traded in larger amounts, leaving a net $24.5 million in ETF outflows. That followed net buying of $58.9 million on Monday and $14.3 million on Friday, Nov. 6. The net selling marks a one-day streak in that direction.
Every ETF and guru trade in CEG is tracked on the CEG guru trades page.
Which ETFs sold CEG on Tuesday?
The largest sellers by dollar value were XLU ($43.3 million), IVV ($0.5 million) and SPYG ($0.4 million). In all, 32 ETFs added shares and 13 cut them.
XLU accounted for the bulk of the activity, reducing its position 2.77% to 5,674,552 shares, a stake worth 6.44% of its portfolio. IVV trimmed 1,719 shares for $0.5 million, SPYG cut 1,591 shares for $0.4 million, and IDU reduced 1,106 shares for $0.3 million, with smaller moves from IWF, SPHB, IFRA and IWL. Constellation Energy operates in the Utilities sector, within Utilities – Independent Power Producers, and carries a market cap of $97.3 billion.
Have ETFs been buying or selling CEG 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 CEG do?
Constellation Energy is the largest producer of carbon-free electricity in the United States, operating the nation’s biggest fleet of nuclear power plants, roughly 21 reactors across the Midwest and Mid-Atlantic, plus hydro, wind, and solar assets.
Constellation Energy reported $33.57 billion in trailing-12-month revenue, up 13.3% year over year, with a gross margin of 16.1% and a net margin of 12.9%. It trades at a P/E of 22.01, P/B of 2.95 and P/S of 2.84, against a $97.3 billion market cap. The <a href="https://www.gurufocus.com/term/gf-score/CEG?ref=etf-stock&r=caf6f
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
