Notable Outflow Observed in SPDR Portfolio Intermediate Term Corporate Bond ETF
Today, we highlight significant changes in shares outstanding among Exchange-Traded Funds (ETFs) tracked by ETF Channel. The SPDR Portfolio Intermediate Term Corporate Bond ETF (Symbol: SPIB) stands out, experiencing an outflow of approximately $225.7 million. This represents a 2.2% decline in the number of shares outstanding, dropping from 303,800,072 to 297,000,072 week over week.
The chart below illustrates SPIB’s one-year price performance in relation to its 200-day moving average:
SPIB has recorded a low of $31.975 per share and a high of $33.8599 over the past year, with its most recent trading price at $33.20. Analyzing the current share price against its 200-day moving average can yield helpful insights for technical analysis. For more information on the 200-day moving average, you can learn more here.
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ETFs function similarly to stocks, with investors buying and selling what are termed “units” instead of “shares.” These units are traded like stocks but can also be created or destroyed based on investor demand. Our weekly monitoring of changes in shares outstanding focuses on identifying ETFs with significant inflows (new units created) or outflows (old units destroyed). When new units are created, it necessitates purchasing the underlying assets of the ETF, while unit destruction involves selling off underlying holdings. Therefore, substantial inflows or outflows can also impact the individual components held within these ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
