Direxion’s TMF Sees Significant Outflow: A Closer Look
In the world of ETFs, Direxion Daily 20+ Year Treasury Bull 3X Shares (Symbol: TMF) stands out this week due to a notable decrease in shares outstanding.
During the past week, TMF experienced an outflow of approximately $173.4 million, representing a 3.0% decrease in shares outstanding, dropping from 128,998,386 to 125,148,386.
The chart below illustrates TMF’s price performance over the last year in relation to its 200-day moving average:
From the chart, we see that TMF’s 52-week range has a low point of $42.655 per share and a high of $67.87. Currently, the last trade price stands at $44.49. By comparing this price with the 200-day moving average, investors can gain further insights into market trends.
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Exchange-traded funds (ETFs) function similarly to stocks. Investors buy and sell “units” rather than shares. These units can be easily traded, and they can also be created or redeemed based on demand. By monitoring the weekly changes in shares outstanding, we identify ETFs experiencing significant inflows (new units created) or outflows (existing units destroyed). An increase in units generally means the ETF must purchase more underlying assets, while a decrease entails selling off holdings, potentially impacting the ETFs’ components.
Explore other ETFs with notable outflows here »
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
