Direxion SPXL ETF Sees $270 Million Outflow Amid Mixed Performance
Weekly $270 Million Dip in SPXL Holdings
This week, the Direxion Daily S&P 500 Bull 3X ETF (Symbol: SPXL) faced a significant challenge, with approximately $270.0 million exiting the fund. This represents a 5.0% decline in shares outstanding, dropping from 31,700,001 to 30,100,001. Among the ETF’s major components, Lockheed Martin Corp (Symbol: LMT) decreased by 0.7%, Nike (Symbol: NKE) edged up by 0.2%, and CrowdStrike Holdings Inc (Symbol: CRWD) rose by 1.5%. For a comprehensive list of SPXL holdings, visit the SPXL Holdings page »
SPXL’s Yearly Performance and 200-Day Moving Average Insights
The accompanying chart illustrates SPXL’s price performance over the past year compared to its 200-day moving average:
The ETF has experienced a low point of $98 per share and reached a high of $190.34 over the last year, with the most recent trade recorded at $170.59. This comparative analysis between the latest share price and the 200-day moving average can be a helpful tool in technical analysis — learn more about the 200-day moving average ».
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ETFs, or exchange-traded funds, function similarly to stocks. Instead of “shares,” investors buy and sell “units.” These units can be traded like stocks and can also be created or liquidated based on investor demand. We monitor changes in shares outstanding on a weekly basis to identify ETFs experiencing significant inflows (indicating new unit creation) or outflows (indicating unit liquidation). The creation of new units necessitates purchasing the ETF’s underlying assets, while the destruction of units requires selling them. Thus, large shifts in flows can influence the underlying components of the ETFs significantly.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
- ETFs Holding AF
- RR market cap history
- Funds Holding DIVD
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
