Looking at recent data from ETF Channel, one significant event has emerged: the ProShares Ultra Bloomberg Natural Gas (Symbol: BOIL) has experienced a notable outflow of approximately $110.9 million. This represents a sharp 27.3% drop in shares outstanding, decreasing from 4,573,050 to 3,323,050 within just one week.
Over the past year, BOIL’s price performance has fluctuated significantly. The ETF reached its lowest point at $35.68 per share, while its highest peak hit $123.60. The latest trade shows a current share price of $96.28. To gain a deeper understanding, comparing the current price to the 200-day moving average can serve as an effective technical analysis tool.
Exchange-traded funds (ETFs) function similarly to stocks; however, investors are buying and selling “units” instead of traditional shares. These units are exchangeable just like stocks but can also be created or destroyed based on investor demand. Each week, we analyze the changes in shares outstanding to identify ETFs that are undergoing significant inflows (indicating many new units created) or outflows (suggesting many old units destroyed). The creation of new units requires the purchase of the ETF’s underlying assets, while unit destruction leads to the sale of those assets. Thus, substantial flows can have an impact on the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
- SRW Historical Stock Prices
- Funds Holding NUSC
- Institutional Holders of IGSB
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
