Gold Miners ETF Sees Significant Outflow Amid Market Trends
GDX Experiences $269 Million Withdrawal in Recent Week
Looking at recent changes in shares outstanding for ETFs, the Gold Miners ETF (Symbol: GDX) has drawn attention for an approximate $269.0 million outflow. This figure represents a 1.8% decrease from the previous week, dropping from 382,202,500 shares to 375,452,500 shares.
Analyzing GDX’s historical performance, its lowest point over the last year was $25.67 per share, while it reached a peak of $44.22. The most recent trade price for GDX stands at $40.23. When comparing the current price to the 200-day moving average, investors can gain a clearer picture of market trends and technical performance.
Exchange traded funds (ETFs) function similarly to stocks; however, investors are actually trading “units” instead of shares. These units can be created or destroyed to match investor demand. By monitoring week-over-week changes in shares outstanding, we can identify ETFs experiencing significant inflows (new units created) or outflows (existing units removed). The creation of new units requires purchasing underlying assets, while the destruction of units necessitates selling them, which can subsequently affect the individual components within the ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
• Top Ten Hedge Funds Holding GNVC
• MHG Videos
• BAFN Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
