The SPDR S&P 500 ETF Trust (SPY) fell 0.15% today, May 12, breaking a recent winning streak. The decline was primarily due to a hotter-than-expected inflation report, surging oil prices, and profit-taking in tech stocks after hitting record highs.
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Importantly, SPY closely tracks the S&P 500 Index (SPX), which was down 0.16% in the regular trading session, while the tech-heavy Nasdaq-100 (NDX) declined 0.87%.
Fund Flows and Sentiment
SPY’s five-day net inflows totaled $7 billion, showing that investors put capital into the ETF over the past five trading days. Meanwhile, its three-month average trading volume is 76.97 million shares.
It must be noted that the crowd wisdom for the SPY ETF is neutral, while the hedge fund managers have increased their holdings of the ETF in the last quarter.
SPY’s Key Holdings with Highest Upside/Downside Potential
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, SPY has a Strong Buy rating. The Street’s average price target of $856.86 for the SPY ETF implies an upside potential of 16.07%.
Currently, SPY’s five holdings with the highest upside potential are:
Meanwhile, its five holdings with the greatest downside potential are:
Revealingly, the ETF’s Smart Score is seven, implying that this ETF is likely to perform in line with the broader market over the long term.