Why 0.6% discrepancy on expiration day

B

bigpig41

Can anyone explain why there is a 0.6% difference between the SPX cash and the SPY exchange traded fund this morning??? Will it eventually be corrected?
 
ping !

48 views and no answer?

SPY 0.6% lower from the open to close and was that much lower than the futures in the premarket?

how does rebalancing cause this?
 
correct me if im wrong but i think the SPYs are ADRs. Therefore they are subject to selling pressure from foriegn investors that the S&P is not. With the dollar tearing higher net foriegn invesmtent in likely becoming more negative
 
yeah i see that.. they're an etf so you cant expect them to track perfectly... maybe they turned on a buy program afterhours to get them back on track :)
 
Your link shows a dividend Ex-Dividend date of Sept. 18, 2009 as does other sites. That dividend was payable 10/30/09 . My understanding is that stocks and ETFs will typically adjust down about the amount of the dividend around the ex-dividend date>>>doesn't explain what happened today.

Any other explanations? just trying to understand.
 
You have to follow the pattern "19-Dec-08". That was one year ago. They have not posted today's yet. SPY is very efficient and would not track off perfectly by a large fraction of a percent like it did today except if there was a dividend.
 
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