Goldman Sachs Sees Net Sell-Off from ETFs Worth $53.3 Million
Goldman Sachs (GS) stock saw a significant decline in purchases from ETFs last Thursday, according to recent data. A net total of $53.3 million worth of GS shares were sold by exchange-traded funds (ETFs), with 31 funds buying and 20 selling the asset.
This recent trend is part of an ongoing stretch of outflows, which includes a $50.3 million sell-off on September 18. The most significant seller was DIA, also known as the S&P 500 ETF Trust, which cut its stake by 0.97% to 5,131,597 shares.
The decrease in purchases is particularly notable given that GS reported a 26.2% increase in revenue year-over-year and a net margin of 31.1%. The company's market cap stands at $272.4 billion, with a GF Score of 83 and a price-to-earnings ratio of 14.44.
Going forward, investors will be watching to see if ETFs continue the selling trend beyond one day after the recent quarterly rebalance on September 18.