ETFs Are Net Sellers of Cisco (CSCO) on Oct. 29

This article first appeared on GuruFocus .

Cisco Systems ( CSCO ) ended a two-day run of net ETF buying in Thursday's session, with ETF flows turning to a net $103.3 million of selling. That came after net purchases of $142.7 million on Oct. 28 and $12.9 million on Oct. 27. More funds traded the other way, with 48 ETFs buying versus 25 selling, but the sellers moved larger amounts. The selling followed a net $100.1 million outflow on Oct. 26.

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

Which ETFs sold CSCO on Thursday?

The largest sellers by dollar value were QQQ ($42.4 million), IYZ ($26.4 million) and TECL ($24.5 million). In all, 48 ETFs added shares and 25 cut them.

Invesco QQQ ( QQQ ) accounted for the largest share of the move, cutting 390,592 shares for a $42.4 million reduction, a 0.47% change in its stake at a 1.86% weight. iShares U.S. Telecommunications ( IYZ ) trimmed 243,040 shares worth $26.4 million, a 12.36% stake change at a 23.92% weight, while Direxion Daily Technology Bull 3X ( TECL ) shed 225,854 shares for $24.5 million, a 19.04% change. SPDR S&P 500 ( SPY ) and ProShares Ultra QQQ ( QLD ) also reduced holdings by $13.1 million and $8.2 million. Cisco operates in the Technology sector's Communication Equipment industry with a market cap of $411.5 billion.

Have ETFs been buying or selling CSCO 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 CSCO do?

Cisco Systems is the world's largest supplier of computer networking equipment, providing the switching, routing, and wireless infrastructure that connects enterprise campuses, data centers, service providers, and the internet.

Cisco reported trailing-12-month revenue of $63.33 billion, up 12.1% over the year. Gross margin was 63.4% and net margin 20.9%. The stock trades at a P/E of 31.39, P/B of 8.2 and P/S of 6.58, with a market cap of $411.5 billion. Its GF Score is 88, and the GF Value of $75.92 compares with a price of $104.51. The dividend yield is 1.65%, and the shares are up 38.19% year to date.