uploads///VFH Fundflows

Investors Added $31 Million to VFH in the Week Ended December 11


Dec. 17 2015, Updated 10:06 a.m. ET

Fund flows

Exchange-traded fund investors have poured $735 million into the Vanguard Financials ETF (VFH) year-to-date. During November, investors added $25.1 million to VFH and allocated $731 million to the Financial Select Sector SPDR ETF (XLF).

During the week ended December 11, the fund recorded asset inflows of $31.8 million. In December so far, investors have allotted $33.1 million in funds to VFH.

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Institutional investors liquidated exposure to VFH in 3Q15

In 3Q15, the 13F filings of major institutional asset managers gave a negative picture of VFH. In 3Q15, trading activity by 13F filers displayed a 9.4% decline in aggregate shares held by institutional investors and hedge funds.

Among the 131 13F filers holding VFH, 33 funds reduced their exposure, and 17 funds sold all their holdings of VFH. However, 23 funds created new positions and 53 funds increased their exposure to VFH.

Major institutional asset management firms Bank of America (BAC), Morgan Stanley (MS), Bank Hapoalim, Quantitative Advantage, and UBS added VFH to their portfolios in 3Q15. Among these, two took fresh positions in VFH while three added to their existing portfolios. Meanwhile, institutional investors 1832 Asset Management, Beacon Capital Management, and M&T Bank (MTB) sold their shares of VFH.

Shares of VFH have been weak year-to-date, losing 3.8%. Among the largest underlying components of these ETFs, Wells Fargo & Co. (WFC) has shed 2.9% year-to-date while Bank of America Corp. (BAC) has lost 6.1%. Meanwhile, JPMorgan Chase (JPM) has gained 2.7% during the same period.


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