XLK ETF Sees $137.1 Million Outflow Amid Mixed Stock Performance
Examining recent trends in ETFs tracked by ETF Channel, one notable change is seen with The Technology Select Sector SPDR Fund (Symbol: XLK). This fund experienced approximately $137.1 million in outflows, marking a 0.2% decrease week over week, falling from 311,605,897 shares to 311,005,897 shares. Among XLK’s sizable components, Micron Technology Inc. (Symbol: MU) is up about 1.7%, Analog Devices Inc. (Symbol: ADI) is up about 1.3%, and Intel Corp (Symbol: INTC) has risen by approximately 0.9%. For a complete list of holdings, visit the XLK Holdings page.
The chart below illustrates XLK’s price performance over the past year, alongside its 200-day moving average:
According to the chart, XLK’s 52-week low is $159.50 per share, while the high reached $238.14. The most recent trading price is $228.77, which is significant when compared to the 200-day moving average, a common gauge for evaluating stock trends.
Exchange-traded funds (ETFs) operate like stocks, though investors buy and sell “units” instead of shares. These units can be exchanged similarly to stocks, but they can also be created or destroyed based on investor demand. Each week, we examine the changes in shares outstanding to identify ETFs with significant inflows or outflows. When new units are created, the underlying assets of the ETF must be purchased. Conversely, when units are destroyed, the underlying assets are sold, which can influence the performance of individual stocks held within the ETFs.
Click here to discover which other 9 ETFs experienced notable outflows.
Also see:
- BRZU market cap history
- EGBN Dividend Growth Rate
- INTZ Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
