Health Care Select Sector SPDR Fund Experiences Notable Outflow This Week
Today, ETF Channel highlighted the Health Care Select Sector SPDR Fund (Symbol: XLV) which has seen significant changes in shares outstanding. The fund experienced an outflow of approximately $112.8 million, marking a 0.3% decline from last week, dropping from 267,215,324 shares to 266,415,324 shares. Major components of XLV, such as Thermo Fisher Scientific Inc (Symbol: TMO), Abbott Laboratories (Symbol: ABT), and Danaher Corp (Symbol: DHR), showed slight decreases in their stock prices, falling approximately 0.9%, 0.6%, and 0.8%, respectively. A complete list of XLV’s holdings can be found on the XLV Holdings page.
The chart below illustrates the one-year price performance of XLV in comparison to its 200-day moving average:
Examining the chart, XLV’s recent share price of $140.66 sits between its 52-week low of $132.72 and high of $159.64. This comparison, alongside the 200-day moving average, provides valuable insights for technical analysis of the ETF.
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Exchange-traded funds (ETFs) behave similarly to stocks; however, investors purchase “units” instead of “shares.” These units can be traded like stocks but can also be created or destroyed based on investor demand. Each week, we analyze the week-over-week changes in shares outstanding to identify ETFs with significant inflows (new units created) or outflows (old units removed). The creation of new units necessitates the purchase of the underlying holdings, while unit destruction requires selling off assets, which can influence the individual stocks within the ETFs.
Click here to discover which 9 other ETFs faced notable outflows »
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