First Trust Dow Jones Internet Index Fund Sees $490.7 Million Inflow
In a review of week-over-week changes in shares outstanding among ETFs, the First Trust Dow Jones Internet Index Fund (Symbol: FDN) stands out with an impressive inflow of approximately $490.7 million. This marks a 7.3% week-over-week increase in outstanding units, rising from 26,750,002 to 28,700,002.
Performance of Key Holdings
Among FDN’s largest underlying components, notable trading activity today includes:
- Arista Networks Inc (Symbol: ANET), down by about 1.3%
- PayPal Holdings Inc (Symbol: PYPL), up by approximately 0.3%
- DoorDash Inc (Symbol: DASH), rising by around 1.2%
For a complete list of holdings, please visit the FDN Holdings page.
Price Performance Overview
The chart below illustrates FDN’s one-year price performance in relation to its 200-day moving average:
In analyzing the chart, FDN’s 52-week low stands at $177.20 per share, while the high reached $267.81. The most recent trade price was reported at $251.46. This information can be furthered by comparing the current share price to the 200-day moving average, a beneficial technical analysis strategy.
Understanding ETF Trading Mechanics
Exchange traded funds (ETFs) function similarly to stocks, with investors trading “units” rather than shares. These units can be created or destroyed based on investor demand. Weekly monitoring of the change in shares outstanding helps identify ETFs with significant inflows (creation of new units) or outflows (destruction of existing units). The creation of new units necessitates purchasing the underlying holdings, whereas destroying units requires selling those holdings. Such dynamics can significantly influence individual components within ETFs.
For insights on other ETFs with notable inflows, click here.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
