Looking at the latest data from ETF Channel, the ProShares UltraPro Short QQQ (Symbol: SQQQ) has experienced a significant outflow of approximately $108.2 million. This translates to a 5.2% decrease in shares outstanding, from 71,667,690 to 67,917,690 over the past week.
Analyzing the chart above, SQQQ’s performance reveals a low of $27.2347 per share and a high of $64.95 over the past 52 weeks, with the latest trade price reported at $27.79. Investors often compare this share price with the 200-day moving average as part of their technical analysis strategy.
Exchange-traded funds (ETFs) function similarly to stocks. Instead of purchasing “shares,” investors buy and sell “units.” These units can be traded among investors and can also be created or destroyed based on demand. Each week, we track changes in shares outstanding for notable inflows, indicating the creation of new units, or outflows, where old units are removed. The creation of new units necessitates the purchase of the underlying assets, while the destruction involves selling those assets. Therefore, substantial flows can influence the components held within the ETFs significantly.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
- Transportation Dividend Stock List
- SHOT Options Chain
- VNOM YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
