The SPDR S&P 500 ETF Trust (SPY) gained 0.18% on Friday. Gains in semiconductor stocks were nearly offset by losses in other large-cap technology and consumer discretionary names.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Importantly, SPY closely tracks the S&P 500 Index (SPX), which was up 0.19%, while the tech-heavy Nasdaq-100 (NDX) declined 0.17%.
Fund Flows and Sentiment
SPY’s five-day net inflows totaled $9 billion, showing that investors put capital into SPY over the past five trading days. Meanwhile, its three-month average trading volume is 79.84 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 $800.18 for the SPY ETF implies an upside potential of 17.13%.
Currently, SPY’s five holdings with the highest upside potential are:
- Texas Pacific Land (TPL)
- Coinbase Global (COIN)
- The Trade Desk (TTD)
- Oracle (ORCL)
- Super Micro Computer (SMCI)
Meanwhile, its five holdings with the greatest downside potential are:
- Warner Bros. Discovery (WBD)
- Tesla (TSLA)
- JB Hunt Transport (JBHT)
- Expeditors International of Washington (EXPD)
- Albemarle (ALB)
Revealingly, SPY’s ETF Smart Score is eight, implying that this ETF is likely to outperform the broader market over the long term.
Power up your ETF investing with TipRanks. Discover the Best AI ETFs, with High Upside Potential, carefully curated based on TipRanks’ analysis.