ETFs Sell Net $13.1 Million of Sherwin-Williams Stock
On Tuesday, exchange-traded funds (ETFs) sold a net $13.1 million of Sherwin-Williams stock. Despite 21 ETFs buying shares and 12 selling, the sellers traded in larger amounts, resulting in a net outflow of funds from the company. This move follows a $89.0 million net inflow on Monday and a $19.9 million net inflow on Friday.
The largest sellers by dollar value were DIA, which led with a $14.7 million reduction, followed by ITB and IWX. The DIA ETF cut its stake in Sherwin-Williams by 0.86% to 5,119,729 shares, representing a 3.82% portfolio weight.
The recent trend has been mostly selling, with ETFs net sellers on three of the last five reported days. This trend is worth watching for investors, as it may indicate a shift in market sentiment towards Sherwin-Williams stock.