This article by Richard Widows on The Street.com examines what percent of a stock is held by ETFs.For example 2.1% of Exxon Mobil is owned by ETFs and 1.2% of Walmart is held by ETFs.
On the big side, 17% of Novastar is held by ETFs and 16% of Accredited Home Lenders Holding is owned by ETFs.
The list of stocks in the article where ETFs own a lot of stock are mostly small cap names while the lesser owned names are large stocks.
You can decide for yourself whether there is any dog wagging. Generally I think not.
8 comments:
what do you make of the pro shares action today. while the cubes are off by about half a percent, the QID is barely up and the PSQ is actually down almost as much as the cubes...
so much for a hedging mechanism. I happened to be reading their prospectus last night and while i could see the QID misbehaving i am baffled at PSQ which should be a straight short of the cubes more or less.
PSQ looks to be up 0.68% per Yahoo which seems OK not sure why QID is only up 73 basis points per Yahoo. If you want to know I would suggest calling in to ProShares?
I'm not sure why it appears to be lagging to day.
this is really weird. yahoo shows PSQ up, but Tradestation shows it down. Ameritrade shows it down in their order ticket window but UP in their full quote screen. They all show the same price (except for yahoo being delayed) but show different up/down percentage wise...
pretty weird...
so that sounds like a dissemination issue like some services including after hours versus not or the like.
Have observed same. Attitude is it doesn't matter.
QID is a LT hold for me, tho painful on days.
Larger cap will be the last bastion of cover before the major trend turn. It's too early for the DXD and MZZ and SDS.
That said, I will fully load DXD, MZZ, and SDS, along with QID on the long run down. When that happens it will finally be my turn to sit back with fine wine for 4-8 years as the excess clears. I can trade the upside like a bulldog, but downside, can't flip the mentality. Let the ETFs work.
Speaking of that, I just uncorked a nice Cuvaison Cab, and will unpack some more of my move items.
http://www.cuvaison.com/default.htm
DB
Anyone but me have major, major PUTS omn the XHB? XHB is TOAST!
Also short MTG.
2%+ today. Suspect
infinity tomorrow.
DB
i am not sure about the QID being a long term holding. It is designed for a double inverse of the Daily percentage move. Not the long term trend.
Thus depending on the pattern of the move in the cubes the end result maybe really weird.
They say as much in the prospectus right off the bat, with examples. Add to that costs and commissions and i am not a big fan, though i own a small position as a short term trade.
I have been trying to figure out if the PSQ is a better instrument.
One problem with PSQ is that liquidity is just a fraction of QID. If PSQ was a straight short of cubes it would be just perfect. Rather they use their own "system" of futures and margin that seems to have some of the same quirks as the QID.
As for XHB, i do not own anything there. But i had entered into AHM and NDE puts last week before the Fed Announcement. Then AHM took off on me after the announcement.
I am still holding on to both. the NDE puts are up handsomely, AHM puts are still underwater, but seems like things may change tomorrow.
bpuzbuwXHB and the whole genre are toast IMHO.
It just depends on when you think the reality will sink in.
Hope my June puts are not too early. They'll buy me a nice home in the bubble areas in about 5 years when they bottom.
Otherwise, beans ‘n weenies..
I know the game, and it's ugly.
And I can spell gnawing but can't type!
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