ETFs Are Net Sellers of Alphabet (GOOG) on Oct. 29

This article first appeared on GuruFocus .

Thirty ETFs were buying Alphabet ( GOOG ) versus 24 selling on Thursday, but the sellers moved larger amounts, leaving net selling of $102.7 million. More funds traded the other way, though in smaller amounts. The move followed two straight days of net buying, with $154.6 million added on Oct. 28 and $48.9 million on Oct. 27. ETF activity turned negative after that stretch, marking a one-day streak in the selling direction.

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See which funds are buying and selling on GuruFocus ETF Trends , or find and compare funds with the ETF Screener .

For the full record of ETF and guru buying and selling in GOOG, see the GOOG guru trades page .

Which ETFs sold GOOG on Thursday?

The largest sellers by dollar value were QQQ ($56.0 million), SPY ($41.1 million) and IVV ($11.7 million). In all, 30 ETFs added shares and 24 cut them.

QQQ accounted for the largest share of the selling, cutting 198,400 shares for a $56.0 million reduction, with its stake down 0.47% to 41,685,413 shares at a 2.45% weight. SPY trimmed 145,697 shares for $41.1 million, and IVV reduced 41,400 shares for $11.7 million. QLD cut 38,400 shares for $10.8 million, a 4.3% stake change, while XLC shed 12,872 shares for $3.6 million at an 8.98% weight. Alphabet sits in the Communication Services sector and Internet Content & Information industry, with a market cap of $3.42 trillion.

Have ETFs been buying or selling GOOG lately?

Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.

What does GOOG do?

Alphabet is a holding company whose largest business is Google, reported in two segments: Google Services and Google Cloud, with non-Google businesses grouped as Other Bets. Google Services generates most of Alphabet's revenue, primarily from advertising on Google Search, YouTube, and partner properties, and also includes Android, Chrome, Google Play, Maps, Gmail, and devices.

Alphabet's trailing-12-month revenue was $471.14 billion, up 21.9% over one year, with gross and net margins of 60.9% and 50.0%. Its P/E is 14.61, P/B 5.22 and P/S 7.3. The GF Score is 98, and GF Value of $270.39 compares with a price of $278.22. The dividend yield is 0.27%, and the year-to-date return is -11.16%.