Major Outflow Detected in SPDR Bloomberg Convertible Securities ETF

In recent analysis of week-over-week changes in ETF shares, the SPDR Bloomberg Convertible Securities ETF (Symbol: CWB) has drawn attention. This ETF experienced a significant outflow of about $126.2 million, marking a 3.1% decline in shares outstanding—from 51,700,000 to 50,100,000.

The chart below illustrates CWB’s one-year price performance in relation to its 200-day moving average:

Reviewing the chart, CWB’s 52-week low stands at $69.45 per share, while its 52-week high is $82.24. The last recorded trade price for CWB was $78.34. For technical analysis, comparing the recent share price against the 200-day moving average can provide insight into market trends—learn more about the 200-day moving average here.

Exchange-traded funds (ETFs) are traded similarly to stocks. However, what investors trade are “units” instead of traditional “shares.” These units can also be created or destroyed according to investor demand. Our weekly monitoring of changes in shares outstanding highlights ETFs undergoing notable inflows, which indicate new units being created, or outflows, suggesting existing units are being destroyed. When new units are created, the underlying assets must be purchased. Conversely, when units are destroyed, those assets are sold, potentially influencing the performance of the ETF’s individual components.

Click here to discover which 9 other ETFs have seen significant outflows »

Also see:

• Dividend Stock Screener
• Funds Holding PGHD
• Funds Holding MTUM

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