Industrial Select Sector SPDR Fund Sees Notable Outflow Amid Market Changes
Recent Performance and Key Holdings Highlights
In the latest week, the Industrial Select Sector SPDR Fund (Symbol: XLI) experienced significant changes in its shares outstanding, with an outflow of approximately $194.9 million. This figure represents a 0.9% decrease, dropping from 147,776,000 shares to 146,376,000 shares. Notably, among XLI’s major holdings, Caterpillar Inc. (Symbol: CAT) saw a rise of about 0.4%, while RTX Corp (Symbol: RTX) dipped slightly by 0.1%. Eaton Corp plc (Symbol: ETN) increased by approximately 1.5%. For further details, you can visit the XLI Holdings page.
The accompanying chart illustrates XLI’s annual price performance in relation to its 200-day moving average:
According to the chart, XLI’s share price reached a low of $96.115 over the past year, with its peak recorded at $139.77. The most recent trade closed at $138.77. Analyzing this recent price against the 200-day moving average can provide useful insights for technical trading strategies.
Understanding ETFs and Market Movements
Exchange-traded funds (ETFs) operate similarly to stocks, but instead of buying and selling “shares,” investors are trading “units.” These units are flexible, allowing for trading back and forth or creation and destruction based on investor interest. Each week, we monitor the week-over-week changes in shares outstanding to identify ETFs with significant inflows (indicating the creation of new units) or outflows (indicating the destruction of old units). Notably, the creation of new units necessitates purchasing the ETF’s underlying holdings, while the destruction of units entails selling off these holdings, impacting the individual components of the ETFs.
Click here to find out which 9 other ETFs experienced notable outflows.
Also see:
- Canadian Stocks Going Ex-Dividend
- Funds Holding RAMP
- Synopsys 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.
