Direxion Daily Semiconductor ETF Experiences Notable Outflow
Today’s review of week-over-week changes in shares outstanding among ETFs reveals that the Direxion Daily Semiconductor Bull 3X Shares (Symbol: SOXL) faced an outflow of approximately $291.3 million. This marks a decrease of 2.6% in shares, dropping from 322,800,060 to 314,350,060. In today’s trading, some of SOXL’s largest underlying components showed positive movement: Analog Devices Inc (Symbol: ADI) rose by about 1.8%, Arm Holdings plc (Symbol: ARM) increased by around 2.6%, and ASE Technology Holding Co Ltd (Symbol: ASX) climbed approximately 2.8%. For further details, please visit the SOXL Holdings page.
In examining the yearly price performance of SOXL, its 52-week low stands at $14.01 per share, while its high reached $70.08. The most recent trade price is $35.36. Comparing this price to the 200-day moving average is a helpful tool for technical analysis—learn more about the 200-day moving average here.
Exchange-traded funds (ETFs) operate similarly to stocks, but investors buy and sell “units” rather than shares. These units can be traded just like stocks and may also be created or destroyed based on investor demand. Each week, we analyze the changes in shares outstanding to identify ETFs that are experiencing significant inflows (more units created) or outflows (units destroyed). When new units are created, the ETF needs to purchase the underlying assets, while destroying units involves selling those assets. Consequently, large inflow or outflow trends can influence the performance of individual components within the ETF.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
• Technology Dividend Stock List
• Funds Holding PSX
• SVRA Average Annual Return
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
