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Surge in Outstanding Units Indicates Strong Investor Interest
In the latest data from ETF Channel, the iShares Broad USD High Yield Corporate Bond ETF (Symbol: USHY) has experienced a remarkable influx of approximately $464.3 million. This translates to a 2.4% increase in outstanding units, rising from 521,850,000 to 534,300,000 over just one week.
The chart below illustrates the price movements of USHY over the past year compared to its 200-day moving average:
Within the past year, USHY’s price fluctuated between a low of $33.765 per share and a high of $37.72. The most recent trading price stands at $37.24. Evaluating this price against the 200-day moving average can provide helpful insights for potential investors.
Exchange-traded funds (ETFs) function similarly to stocks; however, investors buy and sell ‘units’ instead of ‘shares’. These units allow for trading just like stocks but can also be created or destroyed based on investor demand. To track market trends, we monitor the week-over-week data for changes in shares outstanding, helping to identify ETFs with significant inflow (creation of new units) or outflow (destruction of old units). The formation of new units requires the purchase of underlying assets, while the destruction involves selling those assets, making large flows impactful on the individual securities held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Additional Resources:
- Historical Earnings
- ETFs Holding DBVT
- Fox MACD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
