QTEC Sees Notable $151.3 Million Outflow Amid Market Activity
Today, we examine week-over-week changes in shares outstanding among a variety of ETFs compiled by ETF Channel. One ETF that stands out is the First Trust NASDAQ-100-Technology Sector Index Fund (Symbol: QTEC). This fund experienced an approximate $151.3 million outflow, reflecting a 5.8% decrease in shares outstanding, which fell from 14,700,002 to 13,850,002.
Among QTEC’s major underlying components, today’s trading shows positive movement: CrowdStrike Holdings Inc (Symbol: CRWD) is up by around 1.2%, Cadence Design Systems Inc (Symbol: CDNS) has increased by about 1.4%, and Autodesk Inc (Symbol: ADSK) is up approximately 0.9%. For a complete list of holdings, visit the QTEC Holdings page.
The chart below illustrates QTEC’s price performance over the past year compared to its 200-day moving average:
According to the chart, QTEC’s 52-week range sees a low of $143.80 per share and a high of $211.25, while the last traded price was $180.14. Analyzing the most recent price relative to the 200-day moving average can also serve as a useful technical analysis tool.
Exchange-traded funds (ETFs) function similarly to stocks. However, instead of purchasing “shares,” investors buy and sell “units.” These units can be traded back and forth like stocks, and new units can be created or destroyed based on investor demand. Weekly monitoring of changes in shares outstanding helps identify ETFs with significant inflows or outflows. The creation of new units necessitates purchasing the underlying holdings of the ETF, while the destruction of units involves selling these holdings. Thus, major flows can significantly affect the individual components that ETFs hold.
Click here to find out which 9 other ETFs experienced notable outflows.
Other Considerations:
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
