Recent Trends Show $97.1 Million Withdrawn from ETF
Looking at the recent changes in shares among ETFs reported at ETF Channel, one ETF stands out: the iShares California Muni Bond ETF (Symbol: CMF). This fund has experienced a significant outflow of approximately $97.1 million, representing a 3.0% decrease in shares outstanding from 56,800,000 to 55,100,000 week over week.
Analyzing the chart above reveals that CMF reached a low of $53.92 per share in the past year, while its highest point was $58.18. The most recent trading price stands at $57.15. Evaluating the current share price against the 200-day moving average can provide insights into the ETF’s technical performance.
Exchange-traded funds (ETFs) function similarly to stocks; however, investors purchase and sell ”units” instead of ”shares”. These units can be exchanged freely like stocks, and they can also be created or destroyed in response to investor demand. Each week, we track the changes in shares outstanding to identify ETFs with significant inflows (indicative of new unit creation) or outflows (reflecting unit destruction). When new units are created, underlying assets must be acquired, while unit destruction necessitates the sale of these assets. Consequently, large inflow and outflow events can affect the individual securities within the ETF.
Discover which 9 other ETFs witnessed notable outflows »
Also see:
- Institutional Holders of FORL
- CenterPoint Energy Historical Earnings
- GT YTD Return
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
