Examining changes in week-over-week shares outstanding, the iShares Biotechnology ETF (Symbol: IBB) stands out with an outflow of approximately $63.0 million. This marks a 0.9% drop from 49,800,000 shares to 49,350,000 shares.
The chart below illustrates IBB’s price performance over the past year compared to its 200-day moving average:
IBB’s 52-week low is $117.28 per share, while its 52-week high is $150.565. Currently, the ETF’s last trade closed at $137.74. Evaluating the latest share price against the 200-day moving average is an effective technical analysis technique.
Exchange-traded funds (ETFs) function similarly to stocks, with investors trading “units” rather than “shares.” These units can be exchanged easily, but they can also be created or liquidated to meet investor demand. Every week, we track changes in shares outstanding to identify ETFs with significant inflows (creation of new units) or outflows (destruction of existing units). When new units are created, the underlying assets must be bought, whereas the destruction of units entails selling assets, which may influence the individual stocks held within the ETFs.
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.
