Major Outflow in Health Care Sector ETF Highlights Market Trends
Health Care Select Sector SPDR Fund Sees $724.5 Million in Outflows
Today’s analysis of exchange-traded funds (ETFs) shows a significant change in shares outstanding for the Health Care Select Sector SPDR Fund (Symbol: XLV). This fund experienced an outflow of approximately $724.5 million, marking a 1.9% decrease from the previous week (from 270,415,324 shares to 265,215,324 shares). In today’s trading, key holdings in XLV are seeing mixed results—Pfizer Inc (Symbol: PFE) is down 0.3%, Stryker Corp (Symbol: SYK) has dropped 0.5%, while Bristol Myers Squibb Co. (Symbol: BMY) has increased by 0.1%. For a complete list of holdings, visit the XLV Holdings page »
The chart below illustrates the one-year price performance of XLV in relation to its 200-day moving average:
Examining the performance, XLV’s lowest share price over the past 52 weeks was $135.14, with the highest point reaching $159.64. Currently, XLV trades at $139.29. Technical analysis often considers the relationship between the latest share price and the 200-day moving average. For more on this, learn about the 200-day moving average ».
Exchange-traded funds (ETFs) operate similarly to stocks, but investors buy and sell “units” instead of “shares.” These units can be traded like stocks but can also be created or destroyed based on investor interest. Each week, we track the week-over-week changes in shares outstanding to identify ETFs with significant inflows (indicating new units created) or outflows (indicating units destroyed). New unit creation necessitates the purchase of underlying holdings, while the destruction of units requires selling these holdings. Consequently, large flows can affect the individual stocks held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
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