The Invesco S&P 500 Equal Weight Industrials ETF (RSPN) experienced a significant outflow of approximately $139.3 million last week, marking a 13.7% decrease in shares outstanding, from 16 million to 13.81 million units.
Key underlying components of RSPN such as Generac Holdings Inc (GNRC), FedEx Corp (FDX), and Comfort Systems USA Inc (FIX) witnessed declines, with Generac down 3%, FedEx down 1.3%, and Comfort Systems down 3.1%. Currently, RSPN’s share price stands at $62.64, which is close to its 52-week range of $42.28 to $64.16.
This notable drop in shares could impact the underlying components within RSPN, as a decrease typically indicates the destruction of units, necessitating the sale of corresponding holdings.
