Significant Outflow Observed in Direxion Daily 20 Year Plus Treasury ETF
Today, we turn our attention to the week-over-week changes in shares outstanding among various ETFs covered at ETF Channel. One ETF that stands out this week is the Direxion Daily 20 Year Plus Treasury Bull 3x Shares (Symbol: TMF), which has recorded a notable outflow of approximately $160.4 million. This represents a 3.1% decrease in shares outstanding, dropping from 120,448,386 to 116,698,386.
The chart below shows the one-year price performance of TMF compared to its 200-day moving average:
As illustrated in the chart, TMF’s lowest point over the past 52 weeks was $36.51 per share, while the highest was $64.98. The last recorded trade stands at $42.08. Evaluating the most recent price in relation to the 200-day moving average can serve as a valuable technical analysis method.
Exchange-traded funds (ETFs) operate similarly to stocks. However, instead of trading “shares,” investors buy and sell “units.” These “units” can be traded like stocks but can also be created or destroyed based on investor demand. Each week, we track the changes in shares outstanding data to identify ETFs with significant inflows (indicating new units created) or outflows (indicating old units destroyed). The creation of new units typically necessitates purchasing the ETF’s underlying holdings, while the destruction of units requires selling them. Thus, large inflows or outflows can influence the individual components within ETFs.
Click here to discover which 9 other ETFs also saw substantial outflows.
Additionally, consider checking:
- Market Cap History
- WEYS Market Cap History
- KVYO Average Annual Return
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
