This article first appeared on GuruFocus.
ETFs sold $100.1 million of Cisco Systems (CSCO) on Monday, Oct. 26, a net outflow that came even though more funds traded the other way: 28 ETFs bought the stock while 20 sold, but in smaller amounts. The selling snapped a one-day buying pause, following a $7.1 million inflow on Friday, Oct. 23. Before that, ETF activity had leaned negative, with outflows of $3.2 million on Thursday, Oct. 22, $15.9 million on Wednesday, Oct. 21, and $48.8 million on Tuesday, Oct. 20.
More on GuruFocus: ETF Trends | ETF Screener
For the full record of ETF and guru buying and selling in CSCO, see the CSCO guru trades page.
Which ETFs sold CSCO on Monday?
The largest sellers by dollar value were QQQ ($82.8 million), IWD ($21.6 million) and IYZ ($14.8 million). In all, 28 ETFs added shares and 20 cut them.
Invesco QQQ Trust (QQQ) drove the move, cutting 750,669 shares for a $82.8 million reduction, a 0.91% change in its stake at a 1.89% portfolio weight. iShares Russell 1000 Value ETF (IWD) trimmed 195,605 shares worth $21.6 million, and iShares U.S. Telecommunications ETF (IYZ) shed 134,540 shares worth $14.8 million, a 6.29% stake cut at a 24.76% weight. iShares Core S&P 500 ETF (IVV) sold 43,472 shares for $4.8 million. Cisco sits in the Technology sector and Communication Equipment industry with a market cap of $439.1 billion.
Have ETFs been buying or selling CSCO lately?
Over the last 5 reported days, ETFs were net buyers on 1 and net sellers on 4, so the recent trend is mostly selling.
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 one year, with gross margin of 63.4% and net margin of 20.9%. The stock trades at a P/E of 33.46, P/B of 8.74 and P/S of 7.01, against a market cap of $439.1 billion. Its GF Score is 88, and at a price of $111.38 it sits above the GF Value of $75.77. The dividend yield is 1.55%, and the shares have returned 47.27% year to date.