Significant Outflow Recorded for ARK Innovation ETF This Week

In a notable development within the ETF market, the ARK Innovation ETF (Symbol: ARKK) experienced an approximate $181.7 million outflow this week. This represents a 3.4% decrease in shares outstanding, dropping from 103,500,000 to 100,000,000.

The chart below illustrates the one-year price performance of ARKK alongside its 200-day moving average:

Examining the chart, ARKK reached a low of $36.85 per share within its 52-week range, while the 52-week high stands at $68.43. The most recent trade occurred at $50.81. Comparing the current share price to the 200-day moving average can be a beneficial technical analysis method.

Exchange-traded funds (ETFs) function similarly to stocks, but investors buy and sell “units.” These units can be traded back and forth like stocks; however, they can also be created or destroyed to meet investor demand. Each week, we monitor the week-over-week changes in shares outstanding to identify ETFs that are experiencing significant inflows or outflows. The creation of new units necessitates the purchase of underlying holdings, while the destruction of units requires selling those holdings. Consequently, large flows can influence the individual components held within ETFs.

Click here to discover nine additional ETFs that have seen substantial outflows.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.