Analysis of Weekly Changes
Delving into the week-over-week alterations in shares outstanding among the array of ETFs monitored at ETF Channel, one standout performer is the ProShares UltraPro Short QQQ (Symbol: SQQQ). A noteworthy discovery signals an approximate $100.1 million outflow, translating to a 3.1% decline from 288,250,550 to 279,250,550 shares.
Price Performance and Moving Average
Examining the one-year price performance of SQQQ against its 200-day moving average, it is evident that SQQQ’s 52-week range fluctuates between a low of $10.84 per share and a high of $42.57. This comparison highlights the last reported trade at $11.06. Assessing the most recent share price in relation to the 200-day moving average can yield valuable insights through technical analysis.
The Science Behind ETF Trading
ETFs mimic stock trading procedures, but investors transact in “units” instead of traditional “shares.” These interchangeable “units” operate akin to stocks, subject to creation or obliteration to cater to investor demand. Weekly scrutiny of shares outstanding data aids in identifying ETFs witnessing notable inflows (amassment of new units) or outflows (disposal of existing units). Taxing the underlying holdings through unit creation necessitates purchasing, while unit destruction entails divestiture, impacting the ETF’s individual components profoundly.
Click here to unveil the other 9 ETFs that underwent substantial outflows »
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Author views and opinions expressed herein are independent and not reflective of Nasdaq, Inc.’s perspectives.
