Major Outflows Detected in BNY Mellon US Large Cap Core Equity ETF
In the latest analysis of week-over-week changes in ETF shares outstanding, the BNY Mellon US Large Cap Core Equity ETF (Symbol: BKLC) stands out due to significant activity. This week, the ETF has seen approximately $511.6 million in outflows, reflecting an 18.1% decrease in shares outstanding—from 29,870,000 to 24,470,000.
Market Performance of BKLC’s Holdings
Among BKLC’s key holdings, Mastercard Inc (Symbol: MA) has experienced a slight decline, down about 0.2%. In contrast, Costco Wholesale Corp (Symbol: COST) has seen a modest increase of approximately 0.8%. AbbVie Inc (Symbol: ABBV) has had a more pronounced drop, lower by around 4.2%. For a comprehensive overview of BKLC’s holdings, please visit the BKLC Holdings page.
Price Performance Overview
The chart below illustrates BKLC’s one-year price performance alongside its 200-day moving average:
Within the past year, BKLC achieved a low point of $91.90 per share and a peak of $117.50. Currently, it is trading at $95.13. Assessing the latest share price against the 200-day moving average can offer valuable insights for technical analysis. To learn more about this technique, please visit this link.
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Understanding ETF Mechanics
Exchange-traded funds (ETFs) function similarly to stocks, but instead of “shares,” investors are trading “units.” These units can be bought and sold like stocks but can also be created or destroyed according to investor demand. We track changes in shares outstanding weekly to identify ETFs with notable inflows, indicating the creation of new units, or outflows, indicating the destruction of existing ones. Notably, the creation of new units requires purchasing the ETF’s underlying assets, while unit destruction involves selling them. Therefore, substantial changes in ETF flows can also affect the individual securities held within these funds.
Click here to discover which 9 other ETFs have experienced significant outflows.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
