SPDR S&P Oil & Gas ETF Sees Major Outflow of $244.5 Million

In the latest weekly analysis from ETF Channel, the SPDR S&P Oil & Gas Exploration & Production ETF (Symbol: XOP) stands out due to a significant outflow of approximately $244.5 million. This represents a 13.7% decrease in shares outstanding, moving from 17,550,000 to 15,150,000.

Performance of Major Holdings

Among the key components driving XOP’s performance, today’s trading saw Antero Resources Corp (Symbol: AR) declining by about 4.6%, Hess Corp (Symbol: HES) down approximately 1.9%, and Expand Energy Corp (Symbol: EXE) falling roughly 2.5%. For a detailed analysis of XOP’s full portfolio, refer to the XOP Holdings page.

XOP Price Performance Overview

The accompanying chart illustrates XOP’s one-year price performance alongside its 200-day moving average:

XOP has experienced a 52-week low at $99.15 per share, while the high reached $162.49. The most recent closing price sits at $99.98. Analyzing this price against the 200-day moving average can provide valuable insights into long-term trends and market sentiment.

The Nature of ETFs

Exchange-traded funds (ETFs) function similar to stocks, but investors trade in “units” rather than “shares.” These units can be bought and sold like traditional stocks, with the additional capacity for creation or destruction based on investor demand. Each week, we monitor changes in shares outstanding to identify ETFs facing significant inflows or outflows. The creation of new units requires the purchase of underlying assets, whereas the destruction of units entails selling these holdings. Consequently, large movements can also influence the performance of individual components within the ETFs.

Click here to discover which other 9 ETFs have reported notable outflows.

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