$377 Million Inflow Sparks 3.9% Week-Over-Week Increase
In the latest update from ETF Channel, the iShares Expanded Tech-Software Sector ETF (Symbol: IGV) has shown a remarkable change in shares outstanding. This week, the ETF experienced an inflow of approximately $377.0 million, leading to a 3.9% increase in outstanding units—from 89,900,000 to 93,450,000. Among its major holdings, Salesforce Inc (Symbol: CRM) has seen a decrease of about 3.5%, while Oracle Corp (Symbol: ORCL) is down approximately 1.5%, and ServiceNow Inc (Symbol: NOW) has dropped by about 1.6%. For a comprehensive overview of its holdings, please visit the IGV Holdings page.
The chart below illustrates IGV’s price performance over the past year in relation to its 200-day moving average:
Examining the chart reveals that IGV’s lowest price in the past 52 weeks was $75.786 per share, while its highest price reached $107.54. Currently, the ETF trades at $104.72. Investors often use comparisons of the latest share price against the 200-day moving average to inform their decisions, which can be a beneficial technical analysis method.
Exchange-traded funds (ETFs) function similarly to stocks, but instead of buying ‘shares,’ investors trade ‘units.’ These units can be swapped like stocks but can also be created or eliminated based on demand. Each week, we closely monitor changes in shares outstanding to identify ETFs experiencing significant inflows (indicating new units created) or outflows (indicating that old units are removed). When new units are created, additional underlying assets must be purchased, while destroying units typically requires selling underlying assets. Thus, substantial flows can influence the individual components within these ETFs.
Click here to discover which 9 other ETFs saw notable inflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
