The SPDR S&P 500 ETF Trust (SPY) gained 0.72% today, February 20, driven by investor optimism after a landmark Supreme Court ruling that struck down President Trump’s emergency global tariffs.
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Importantly, SPY closely tracks the S&P 500 Index (SPX), which jumped 0.69% in the regular trading session, while the tech-heavy Nasdaq-100 (NDX) was up 0.87%.
Fund Flows and Sentiment
SPY’s five-day net outflows totaled $5 billion, showing that investors pulled capital out of the ETF over the past five trading days. Meanwhile, its three-month average trading volume is 81.80 million shares.
It must be noted that the news sentiment for the SPY ETF is positive, whereas hedge fund managers have decreased their holdings of the ETF in the last quarter.
SPY’s Price Forecast
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, SPY has a Moderate Buy rating. The Street’s average price target of $822.60 for the SPY ETF implies an upside potential of 19.32%.
Currently, SPY’s five holdings with the highest upside potential are:
Meanwhile, its five holdings with the greatest downside potential are:
Revealingly, SPY’s ETF Smart Score is seven, implying that this ETF is likely to perform in line with the broader market over the long term.