ETF Channel Reports $124.4 Million Withdrawal from IBDP
Recent analysis from ETF Channel reveals a notable decline in shares for the iShares— iBonds— Dec 2024 Term Corporate ETF (Symbol: IBDP). Over the past week, the ETF experienced an outflow of approximately $124.4 million, reflecting a 6.1% decrease in shares outstanding, dropping from 80,650,000 to 75,700,000.
The chart below illustrates IBDP’s price movement over the last year in relation to its 200-day moving average:
IBDP’s 52-week performance shows a low of $24.81 per share and a high of $25.22, with the most recent trade recorded at $25.14. Investors often compare the current price to the 200-day moving average for insights into market trends. For more details, learn about the 200-day moving average.
Exchange traded funds (ETFs) function similarly to stocks; however, investors buy and sell ‘units’ instead of ‘shares’. These units can be traded like stocks and also created or destroyed based on investor demand. Our weekly monitoring of changes in shares outstanding helps identify ETFs with significant inflows (new units created) or outflows (old units destroyed). When new units are created, the underlying assets of the ETF must be purchased. Conversely, when units are destroyed, the ETF sells off its underlying assets. Consequently, these large inflows and outflows can influence the ETFs’ component stocks.
Click here to find out which 9 other ETFs experienced notable outflows »
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
