MercadoLibre, Mondelez, and Marvell See Declines Amid ETF Changes
Looking at recent changes in the number of shares for various ETFs, the ProShares UltraPro QQQ (Symbol: TQQQ) stands out with an outflow of about $140.4 million. This represents a reduction of 0.5% in its shares, falling from 318,300,000 to 316,700,000 over the week. Key components within TQQQ include MercadoLibre Inc (Symbol: MELI), which is down roughly 0.9%, Mondelez International Inc (Symbol: MDLZ), declining about 3.3%, and Marvell Technology Inc (Symbol: MRVL), which has slipped by about 3%. For more details, visit the TQQQ Holdings page.
Looking at the chart, the TQQQ has experienced a 52-week range with a low at $44.60 per share and a high reaching $87.865. The latest trade price is $86.46. Using the 200-day moving average as a tool for technical analysis can provide additional insights — discover more about the 200-day moving average.
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Exchange-traded funds (ETFs) function similarly to stocks; however, investors deal with ”units” instead of ”shares”. These units can be traded like stocks and are also adjusted to fit investor demand—new units can be created, or old ones can be eliminated. Each week, we track the changes in outstanding shares to find ETFs with significant inflows, indicating new unit creations, or outflows, suggesting reductions in units. The creation of new units requires purchasing the ETF’s underlying holdings, while destroying units entails selling these holdings. Therefore, large outflows can influence the individual stocks within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
- Stocks Analysts Like But Hedge Funds Are Selling
- BERY Shares Outstanding History
- PRGO Next Dividend Date
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
