In a recent analysis of exchange-traded funds (ETFs), the iShares iBoxx $ High Yield Corporate Bond ETF (Symbol: HYG) has shown a significant decline in shares outstanding. This week, it recorded an outflow of approximately $239.5 million, which translates to a 1.5% drop from 201,500,000 shares to 198,500,000 shares.
The chart below illustrates HYG’s price performance over the past year in relation to its 200-day moving average:
According to the data, HYG’s 52-week low was $75.59 per share, while its highest point reached $80.37. The latest trade price is $79.78, indicating how it compares with its historical averages. Additionally, examining the recent share price against the 200-day moving average can provide valuable insights for investors.
Exchange-traded funds (ETFs) function similar to stocks; however, investors are buying and selling “units” instead of traditional shares. These units can be traded like stocks and can also be created or destroyed based on investor demand. By monitoring the week-over-week changes in shares outstanding, we can identify ETFs experiencing significant inflows, where new units are being created, or outflows, where existing units are being removed. This dynamic can impact not only the ETF but also affect individual stocks held within it.
Click here to find out which 9 other ETFs experienced notable outflows »
Additional Insights:
- Warren Buffett Dividend Stock Portfolio
- NCSM Insider Buying
- LGIH Price Target
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
