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Eric Balchunas Profile picture
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23 Dec, 5 tweets, 2 min read
Most of the ARK ETFs saw record flows last night. All told the ARK Fam took in about $1b based on Monday's $2b in volume, which means 50% of its volume was creates, wow. So lookout for another $1b+ in flows tonight based off Tue's $2.3b in volume (ARK reports shares T+1).
The 50% volume to flow ratio is even higher than I predicted but I will still take some credit for getting VERY close to nailing the flow amount.
$ARKK and $ARKG are 5th and 6th in overall in creations in past week with about $1b each. Big boy flows.
Also, the inflows last night boosted $ARKK aum to $18.7b which surpasses $DXJ's peak asset level amid the currency hedging craze.
One point on $DXJ is that it was #1 in inflows in 2013. That is one thing ARKK will not be able to touch. It does have real shot to crack Top 10 (curr #14 and $2.5b behind #10 spot) but it's not getting anywhere near VTI's $32b.

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More from @EricBalchunas

Eric Balchunas Profile picture
22 Dec
ARK now 4th overall in 2020 flows (after Big Three) w/ decent shot to pass State Street by EOY given the building intensity of the inflows eg ARK ETFs took in more yesterday than all of 2019 as the mega volume is converting into mega flows. (note: there are over 100 ETF issuers)
Also don't be surprised if ARK sneaks past JPM and WisdomTree in total assets by EOY to nestle into the 9th spot overall (up from 28th spot to start year, an unprecedented jump). Here's the monthly assets, the firm has doubled aum in 10 weeks prob hit $40b by EOY.
Another look at ARK's asset growth shows a nearly 90 degree angle in 2020. I threw in Pimco (who is no slouch) for context.
Read 4 tweets
Eric Balchunas Profile picture
18 Dec
NEXT LEVEL: $TSLA just obliterated the all-time volume record for an equity w/ $148b worth of shares traded today, beating $SPY's $118b high water mark set during March chaos. For perspective, $MSFT trades about $5b/day.
Another mind-melter: $TSLA traded more today than the next 25 most active stocks COMBINED. There's no way that's not a record.
One more: $TSLA's volume today was the equiv of Hungary's annual GDP.
Read 4 tweets
Eric Balchunas Profile picture
2 Dec
HEADS UP: Check out BI's Financial Sector Outlook webinar today at 11am covering US and Europe ensemble-style feat myself & @tpsarofagis on ETFs/MFs as well as BI's banking, PE and ESG analysts. Sign up here: onlinexperiences.com/scripts/Server…
Here's one of the charts that will be in today's webinar that my colleague @AEWilliamsNYC upkeeps (that I'm jealous of) showing the relationship bt flows and asset growth via mkt returns both historically by fund type. Mind melting.. Image
We have somewhat similar chart we'll be feat as well, albeit only flows and by year instead of decade. Takeaway for 2020: the trend remains strong except ETFs have had to carried all the passive weight this year thx to some internal migration at Vgrd, via @JSeyff Image
Read 4 tweets
Eric Balchunas Profile picture
12 Aug
HOLY CRAP: Unless I'm missing something the ballpark $15m that is curr held short in $DGAZF now owes like $300m thx to some ppl (who tho, I'm not sure) manipulating the price up 1,900% in 3 days. I've never seen a gap that wide bt assets and mkt cap, just wow.
Never seen an HP screen like this either. If you are short this thing (as some actual real ppl are) this table must look like a scene from The Exorcist. Altho I can't imagine the regulators don't step in and short this out.
Not sure who behind that if you look at the longs (the ppl who would benefit the most from short squeeze) it's basically Credit Suisse, who last I heard is also lending out the shares for a fee as well. If the call isn't coming from inside the house it def looks that way..
Read 4 tweets
Eric Balchunas Profile picture
15 Jan
SOMETHING TO WATCH: $SDY may be forced to sell 22% of Tanger Factory Outlet's (SKT) total shares outstanding in one shot at the end of the month in the ann reconstitution since the stock's market cap fell below the $1.5b eligibility req on the ref date..
How did one ETF get to own 22% of one company? Low rates attracted investors to the $20b ETF, which (this is key) weights by yield, giving Tanger's high yield an unusually large weighting for such a small stock. Mewnwhile, active players have been selling the stock bc Amazon.
This gets messier bc $SKT currently has a record 57% of its shares shorted rn. Is likely State State was caught by surprise a little and may have lent shares out it will have to call back soon in order to do reconstitution. Maybe they will buy SKT to minimize impact not sure tho
Read 9 tweets

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