A Closer Look at ETF Outflows
Within the realm of ETFs monitored by ETF Channel, the recent statistics on units outstanding compared to a week ago reveal some noteworthy trends. The Direxion Daily Semiconductor Bull 3X Shares suffered the greatest blow, witnessing the destruction of 9,800,000 units, signaling a 4.9% decrease in just one week. This jolt has reverberated through the sector, with Advanced Micro Devices slipping 2.3% in morning trading and Analog Devices showing a modest 0.3% uptick.
Identifying the Biggest Loser
On a proportional scale, the ProShares UltraShort Oil & Gas ETF faced the largest outflow, shedding 600,000 units, equivalent to a substantial 30.7% reduction in outstanding units from the previous week.