ETFs Bought $105.1 Million of Amazon (AMZN) on Wednesday

This article first appeared on GuruFocus.

XLY led the buying, adding $107.6 million of Amazon.com (AMZN) as ETF activity turned positive on Wednesday, Nov. 4. Sixty-six ETFs bought the stock against 22 that sold, for a net gain of $105.1 million. The move extends a four-day buying streak, following net inflows of $33.2 million on Nov. 3, $495.4 million on Nov. 2 and $226.2 million on Oct. 30. The prior session, Oct. 29, was a net outflow of $141.2 million.

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For the full record of ETF and guru buying and selling in AMZN, see the AMZN guru trades page.

Which ETFs bought AMZN on Wednesday?

The largest buyers by dollar value were XLY ($107.6 million), IVV ($72.8 million) and SPYM ($36.3 million). In all, 66 ETFs added shares and 22 cut them.

ETF

Shares changed

Value

Weight in ETF

XLY

+404,401

$107.6M

22.28%

IVV

+273,552

$72.8M

3.94%

SPYM

+136,272

$36.3M

3.94%

IYC

+126,132

$33.6M

13.69%

DIA

+103,845

$27.6M

2.96%

QQQ

+72,588

$19.3M

4.66%

TQQQ

+62,595

$16.7M

4.68%

URTH

+44,080

$11.7M

2.84%

XLY drove the day with a $107.6 million increase, lifting its stake 2.07% to 19,972,151 shares at a 22.28% portfolio weight. IVV added $72.8 million and SPYM $36.3 million, while IYC raised its position 18.33% for a $33.6 million gain. DIA added $27.6 million, QQQ $19.3 million, TQQQ $16.7 million and URTH $11.7 million. Amazon sits in the Consumer Cyclical sector and Internet Retail industry with a market cap of $2.81 trillion.

Have ETFs been buying or selling AMZN lately?

Over the last 5 reported days, ETFs were net buyers on 4 and net sellers on 1, so the recent trend is mostly buying.

Date

Net value

Buying

Selling

Nov. 4

$105.1M

Nov. 3

$33.2M

Nov. 2

$495.4M

Oct. 30

$226.2M

Oct. 29

-$141.2M

What does AMZN do?

Amazon.com serves consumers, sellers, developers, enterprises, content creators, and advertisers through three segments: North America, International, and Amazon Web Services. Its online and physical stores sell hundreds of millions of products directly and on behalf of third-party sellers, who pay fees and commissions; fulfillment is handled through Amazon's own logistics network.

Amazon's trailing-12-month revenue was $797.46 billion, up 14.4% over one year, with gross and net margins of 51.4% and 17.0%. It trades at a P/E of 21.03, P/B of 4.58 and P/S of 3.55. The GF Score is 93, and GF Value of $258.20 compares with a price of $260.21. The stock is up 12.73% year to date.