XLE ETF Sees $114.9 Million Outflow This Week
In the latest week-over-week analysis of ETFs, the Energy Select Sector SPDR Fund (Symbol: XLE) stands out with an estimated $114.9 million outflow. This represents a 0.4% decrease in shares outstanding, dropping from 323,924,200 to 322,524,200.
Performance of Major Components
Among XLE’s significant components, EOG Resources, Inc. (Symbol: EOG) decreased by about 1.2%, Kinder Morgan Inc. (Symbol: KMI) fell 0.9%, and ONEOK Inc. (Symbol: OKE) was down approximately 1.3%. For the full list of holdings, please refer to the XLE Holdings page.
Price and Moving Averages
The chart below illustrates XLE’s annual price performance compared to its 200-day moving average:
Currently, XLE’s price sits at $81.08, with a 52-week low of $74.49 and a high of $97.92. Comparing this recent price with the 200-day moving average can be a useful technical analysis strategy.
Understanding ETF Share Dynamics
Exchange traded funds (ETFs) function like stocks; however, investors buy and sell “units” instead of shares. These units can be traded like stocks but may also be created or destroyed based on investor demand. Each week, we monitor the changes in shares outstanding to identify ETFs with significant inflows (new units created) or outflows (old units destroyed). The creation of new units necessitates purchasing the underlying assets, while unit destruction involves selling them. Consequently, substantial flows can influence the individual components held within these ETFs.
Click here to discover which 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.
