Gold Miners ETF Sees $211.8 Million Outflow This Week
Looking at changes in shares outstanding among ETFs this week, the Gold Miners ETF (Symbol: GDX) stands out due to a significant outflow. Approximately $211.8 million has exited the fund, reflected in a 1.3% decrease in shares week-over-week, dropping from 319,352,500 to 315,252,500.
The chart below illustrates GDX’s one-year price performance in relation to its 200-day moving average:
In examining the chart, GDX’s lowest point over the past year registered at $32.20 per share, while its peak reached $53.25. The most recent trade settled at $51.69, making technical analysis such as comparing the current share price to the 200-day moving average particularly useful. For further details on this analysis technique, see more about the 200-day moving average ».
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Exchange-traded funds (ETFs) function similarly to stocks; however, investors buy and sell “units” instead of shares. These units can be traded in the same manner as stocks and can also be created or destroyed based on investor demand. We monitor the week-over-week changes in shares outstanding to detect ETFs that experience notable inflows, indicating new unit creation, or outflows, signaling the destruction of old units. The creation of new units necessitates purchasing the underlying holdings of the ETF, whereas the destruction of units involves selling these holdings. Consequently, significant flows may impact the individual components held within the ETFs.
Click here to find out about 9 other ETFs with notable outflows »
also see:
- ELS Dividend History
- SCHW 13F Filers
- TASR Price Target
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
