Major ETF Outflows Highlight Market Trends This Week
In the latest analysis of ETFs covered by ETF Channel, significant outflows were noted over the past week. The Direxion Daily Semiconductors Bull 3x Shares (SOXL) experienced the largest decline, with a noteworthy decrease of 35,900,000 units, marking a 4.7% drop from the previous week. In morning trading, SOXL’s major components showed positive movement; Broadcom rose approximately 3.2%, while Nvidia climbed about 4.8%.
On a percentage basis, the Moody’s Analytics IG Corporate Bond ETF reported the steepest unit loss, shedding 350,000 units. This translates to a substantial 35.0% reduction in outstanding units compared to the prior week.
VIDEO: SOXL, MIG: Big ETF Outflows
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