This article first appeared on GuruFocus.
TD SYNNEX (SNX) ended a mixed stretch with $54.0 million in net ETF selling in Wednesday’s session, its first day in the selling column after a $0.2 million net inflow on Oct. 27 and a $2.8 million net outflow on Oct. 26. More ETFs traded the other way, with 21 funds buying versus 7 selling, but the sellers moved larger amounts. ETF activity also included 87 funds holding their positions unchanged. The prior sessions were small in scale, with net flows of $0.1 million and $1.4 million on Oct. 23 and Oct. 22.
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Which ETFs sold SNX on Wednesday?
The largest sellers by dollar value were JAVA ($35.4 million), DFAT ($15.0 million) and DFSV ($5.7 million). In all, 21 ETFs added shares and 7 cut them.
JAVA accounted for the bulk of the move, cutting its stake by 99.77% for a $35.4 million reduction in value. DFAT shed 82.53% of its position, a $15.0 million decline, and DFSV trimmed 36.42% for a $5.7 million reduction. Smaller reductions came from IWB, IWS and TDIV, each near zero in dollar value. The company operates in the Technology sector within Electronics & Computer Distribution and carries a market cap of $20.3 billion.
Have ETFs been buying or selling SNX 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 SNX do?
TD Synnex Corp is a global distributor and solutions aggregator for the information technology ecosystem, formed by the 2021 merger of Tech Data and SYNNEX. The company connects technology manufacturers, software publishers, and cloud service providers with a broad network of resellers, retailers, systems integrators, and managed service providers.
TD SYNNEX reported trailing-12-month revenue of $75.67 billion, up 29.2% over the year. Gross margin stood at 6.3% and net margin at 1.8%. Valuation showed a P/E of 15.54, P/B of 2.17 and P/S of 0.27 against a $20.3 billion market cap. The GF Score was 91, and GF Value of $198.48 compared with a price of $255.07. Dividend yield was 0.94%, and the stock returned 71.39% year to date.