The SPDR S&P 500 ETF Trust (SPY) gained 0.11% in pre-market trading on Friday, boosted by better‑than‑expected earnings from big semiconductor and banking companies, which lifted confidence in the AI sector and the broader economy.
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Importantly, SPY closely tracks the S&P 500 Index (SPX), which rose 0.26% yesterday, while the tech-heavy Nasdaq-100 (NDX) was up 0.32%.
Fund Flows and Sentiment
SPY’s five-day net inflows totaled $725 million, showing that investors put capital into SPY over the past five trading days. Meanwhile, its three-month average trading volume is 79.46 million shares.
It must be noted that the retail sentiment for the SPY ETF is positive, while 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 $806.11 for the SPY ETF implies an upside potential of 16.45%.
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 eight, implying that this ETF is likely to outperform the broader market over the long term.
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