An astounding statistic on CNBC today about how heavy the flows in February are into 1 fund. This also showcases why so many stocks, especially of the large cap kind within a sector, move together. The hot money in the hedge fund world all piled into Energy Select SPDR (XLE) in February, with nearly 1 of every 4 dollars headed this way.
- Net inflows into exchange-traded funds in February were $7.51 billion . XLE was the inflows leader with almost $1.6 billion in new investments.
|Company name||% Net assets|
|Occidental Petroleum Corporation||4.45%|
|Anadarko Petroleum Corp.||2.89%|
|Devon Energy Corporation||2.87%|
|National Oilwell Varco, Inc.||2.55%|
|Percentage of holdings 63.07%|
You can see Exxon's chart is not very much different from the ETF - quite amazing when an ETF can affect the country's largest stock.