{"slug":"do-mutual-funds-trade-in-the-primary-market","qid":"volume_clock","label":"volume_clock","post_title":"do-mutual-funds-trade-in-the-primary-market","post_url":"/blog/do-mutual-funds-trade-in-the-primary-market#q-volume_clock","columns":["et_time","avg_shares_millions"],"rows":[{"et_time":"04:00","avg_shares_millions":0.07},{"et_time":"04:15","avg_shares_millions":0.01},{"et_time":"04:30","avg_shares_millions":0.01},{"et_time":"04:45","avg_shares_millions":0.01},{"et_time":"05:00","avg_shares_millions":0.01},{"et_time":"05:15","avg_shares_millions":0.01},{"et_time":"05:30","avg_shares_millions":0.01},{"et_time":"05:45","avg_shares_millions":0.01},{"et_time":"06:00","avg_shares_millions":0.01},{"et_time":"06:15","avg_shares_millions":0.01},{"et_time":"06:30","avg_shares_millions":0.01},{"et_time":"06:45","avg_shares_millions":0.02},{"et_time":"07:00","avg_shares_millions":0.05},{"et_time":"07:15","avg_shares_millions":0.04},{"et_time":"07:30","avg_shares_millions":0.04},{"et_time":"07:45","avg_shares_millions":0.04},{"et_time":"08:00","avg_shares_millions":0.06},{"et_time":"08:15","avg_shares_millions":0.09},{"et_time":"08:30","avg_shares_millions":0.24},{"et_time":"08:45","avg_shares_millions":0.16},{"et_time":"09:00","avg_shares_millions":0.13},{"et_time":"09:15","avg_shares_millions":0.14},{"et_time":"09:30","avg_shares_millions":2.3},{"et_time":"09:45","avg_shares_millions":1.71},{"et_time":"10:00","avg_shares_millions":1.53},{"et_time":"10:15","avg_shares_millions":1.37},{"et_time":"10:30","avg_shares_millions":1.05},{"et_time":"10:45","avg_shares_millions":1.21},{"et_time":"11:00","avg_shares_millions":1.17},{"et_time":"11:15","avg_shares_millions":1.1},{"et_time":"11:30","avg_shares_millions":1.07},{"et_time":"11:45","avg_shares_millions":0.83},{"et_time":"12:00","avg_shares_millions":0.86},{"et_time":"12:15","avg_shares_millions":0.72},{"et_time":"12:30","avg_shares_millions":0.77},{"et_time":"12:45","avg_shares_millions":0.7},{"et_time":"13:00","avg_shares_millions":0.76},{"et_time":"13:15","avg_shares_millions":0.56},{"et_time":"13:30","avg_shares_millions":0.65},{"et_time":"13:45","avg_shares_millions":0.57},{"et_time":"14:00","avg_shares_millions":0.84},{"et_time":"14:15","avg_shares_millions":0.77},{"et_time":"14:30","avg_shares_millions":1.37},{"et_time":"14:45","avg_shares_millions":1.48},{"et_time":"15:00","avg_shares_millions":1.07},{"et_time":"15:15","avg_shares_millions":1.24},{"et_time":"15:30","avg_shares_millions":1.56},{"et_time":"15:45","avg_shares_millions":5.2},{"et_time":"16:00","avg_shares_millions":3.27},{"et_time":"16:15","avg_shares_millions":0.91},{"et_time":"16:30","avg_shares_millions":0.09},{"et_time":"16:45","avg_shares_millions":0.15},{"et_time":"17:00","avg_shares_millions":0.15},{"et_time":"17:15","avg_shares_millions":0.1},{"et_time":"17:30","avg_shares_millions":0.16},{"et_time":"17:45","avg_shares_millions":0.02},{"et_time":"18:00","avg_shares_millions":0.03},{"et_time":"18:15","avg_shares_millions":0.01},{"et_time":"18:30","avg_shares_millions":0.01},{"et_time":"18:45","avg_shares_millions":0.01},{"et_time":"19:00","avg_shares_millions":0.01},{"et_time":"19:15","avg_shares_millions":0.01},{"et_time":"19:30","avg_shares_millions":0.01},{"et_time":"19:45","avg_shares_millions":0.01}],"shape":"series","sql":"SELECT\n    et_time,\n    round(avg(bucket_shares) / 1e6, 2) AS avg_shares_millions\nFROM\n(\n    SELECT\n        toDate(toTimeZone(window_start, 'America/New_York')) AS session_day,\n        formatDateTime(toStartOfInterval(toTimeZone(window_start, 'America/New_York'), INTERVAL 15 minute), '%H:%i') AS et_time,\n        sum(toFloat64(volume))                               AS bucket_shares\n    FROM global_markets.delayed_stocks_minute_aggs\n    WHERE ticker = 'SPY'\n      AND window_start >= toDateTime('2026-09-01 08:00:00')\n      AND window_start <  toDateTime('2026-09-16 00:00:00')\n    GROUP BY session_day, et_time\n)\nGROUP BY et_time\nORDER BY et_time","computed_at":"2026-09-22T14:44:01.298641+00:00","elapsed":0.002597218}