Large Outflow Spurs Notable Changes in ProShares UltraPro S&P 500 ETF
Today, a significant change was observed in the ProShares UltraPro S&P 500 (Symbol: UPRO) as the ETF experienced an approximate outflow of $426.6 million. This represents a 12.2% week-over-week decrease in shares outstanding, dropping from 57,550,000 to 50,550,000. This notable shift in investor sentiment reflects broader market trends and individual stock performance.
Underlying Performance of Top Holdings
Among the largest components of UPRO, several notable stocks showed positive movement today. Goldman Sachs Group Inc (Symbol: GS) rose by about 1.7%, while Walt Disney Co. (Symbol: DIS) gained approximately 2.6%. Additionally, The Charles Schwab Corporation (Symbol: SCHW) increased by about 0.9%. Investors can view a complete list of UPRO’s holdings for deeper analysis.
Price Performance and Technical Analysis
The chart below presents UPRO’s one-year price performance alongside its 200-day moving average:
Currently, UPRO’s shares are trading at $63.05. Over the past year, the ETF’s price has fluctuated between a low of $45.88 and a high of $100.06. Assessing the recent share price in relation to the 200-day moving average can provide valuable insight for technical analysis.
Understanding ETF Share Changes
Exchange-traded funds (ETFs) operate much like stocks. Investors buy and sell “units” instead of traditional “shares.” These units can be created or destroyed based on market demand, which allows for flexibility in the trading of the underlying assets. Each week, we examine the week-over-week changes in shares outstanding to identify ETFs experiencing significant inflows or outflows. The creation of new units necessitates purchasing the underlying assets, whereas the destruction of units typically requires selling them, thereby affecting the individual components held within ETFs.
For more details, including a list of ETFs that have noted considerable outflows, you can investigate further.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
