Major shifts in ETF activity highlight investor sentiment as ProShares UltraPro QQQ sees over half a billion dollars vanish.
In recent analysis of ETF performance, the ProShares UltraPro QQQ (Symbol: TQQQ) has shown a notable outflow of approximately $541.1 million, representing a 1.8% drop in shares outstanding this week (from 316,700,000 to 310,900,000). Among TQQQ’s key components, Applied Materials, Inc. (Symbol: AMAT) is climbing by about 0.4%, while Palo Alto Networks, Inc. (Symbol: PANW) is down by roughly 1.3%. Automatic Data Processing, Inc. (Symbol: ADP) has also gained approximately 0.4%. For a complete overview of holdings, visit the TQQQ Holdings page.
The chart below illustrates TQQQ’s one-year price performance in contrast to its 200-day moving average:
Reviewing the data, TQQQ demonstrates a 52-week range with a low of $45.47 per share and a high of $93.7892. The recent trading price stands at $91.21, providing an important context against the established 200-day moving average, which serves as a key metric for technical analysis.
Exchange-traded funds (ETFs) function similarly to stocks, yet investors buy and sell “units” instead of “shares.” These units can be traded like stocks, but they can also be created or destroyed depending on demand. Each week, we track changes in shares outstanding to identify ETFs experiencing significant inflows (indicating new units being created) or outflows (indicating old units being destroyed). The creation of new units necessitates purchasing the underlying assets of the ETF, while the destruction of units requires selling off those assets. Thus, large movements in these flows can affect the individual stocks held within the ETFs.
Click here to find out which 9 other ETFs experienced notable outflows.
Also see:
- Dividend Yield
- YVR shares outstanding history
- LIVX Stock Predictions
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
