BITX ETF Sees Significant $121.7 Million Outflow This Week

Examining the latest week-over-week changes in shares outstanding among ETFs, the BITX ETF (Symbol: BITX) recorded a significant outflow of approximately $121.7 million. This marks a 5.1% decline, dropping its shares from 57,110,000 to 54,180,000.

The following chart illustrates BITX’s one-year price performance compared to its 200-day moving average:

From the chart, BITX’s 52-week low stands at $18.95 per share, while the high reaches $72.80. The most recent trading price is $40.98. Evaluating the latest share price against the 200-day moving average can provide valuable insights for technical analysis—find out more about the 200-day moving average here.

Exchange-traded funds (ETFs) operate similarly to stocks; however, investors buy and sell “units” instead of “shares.” These units can be traded like stocks and can also be created or eliminated based on investor demand. Each week, we track changes in shares outstanding to identify ETFs with significant inflows (creation of new units) or outflows (redemption of existing units). The creation of new units necessitates purchasing the underlying holdings of the ETF, while redemption requires selling off those holdings. Therefore, substantial flows can notably affect the individual assets contained within ETFs.

Click here to discover which other 9 ETFs experienced notable outflows this week »

Also see:

• Funds Holding ENJY
• ERAS YTD Return
• EDNC Market Cap History

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.