ETFs Dump $120 Million in Amazon Shares After Buying Streak

ETFs shifted to net selling of Amazon (AMZN) shares on October 1, 2026, marking a reversal after four consecutive days of net buying. The net outflow amounted to $120.1 million, with 24 ETFs trimming positions while 56 added shares. The selling was led by SPY, which reduced its stake by $304.2 million, cutting its holdings by 1.01% to 120,216,927 shares. Other notable sellers included GPIX, GPIQ, and XLY, with respective outflows of $12.0 million, $5.7 million, and $3.8 million.

The prior four sessions had seen significant net inflows, totaling $154.0 million, $120.8 million, $986.3 million, and $398.4 million. The recent trend had been predominantly buying, with ETFs acting as net buyers on four of the last five reported days. However, the one-day selling spree raises questions about whether this shift will extend or if the previous buying momentum will resume.

Amazon operates across three segments: North America, International, and Amazon Web Services. The company reported a trailing 12-month revenue of $775.68 billion, up 14.7% year over year, with gross and net margins of 50.8% and 17.5%, respectively. Its P/E ratio stands at 20.23, P/B at 4.92, and P/S at 3.52. The stock has returned 8.97% year to date.

The market cap of Amazon is $2.71 trillion, and the GF Value of $250.18 compares with a current price of $251.52. Investors will be watching closely to see if the net selling continues or if the recent buying trend resumes.