SPDR Portfolio Corporate Bond ETF Experiences Notable Outflow This Week
Looking at recent week-over-week changes in shares outstanding for ETFs tracked by ETF Channel, the SPDR Portfolio Intermediate Term Corporate Bond ETF (Symbol: SPIB) stands out due to an approximate $131.4 million outflow. This represents a 1.4% decrease, moving from 295,800,072 shares outstanding to 291,800,072.
The chart below illustrates the one-year price performance of SPIB alongside its 200-day moving average:
Analyzing the chart, SPIB’s 52-week low is $31.975 per share, while the 52-week high is $33.8599. The most recent trading price was $32.90. Evaluating the share price against the 200-day moving average can serve as a valuable technical indicator—learn more about the 200-day moving average by visiting our linked resources.
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Exchange-traded funds (ETFs) operate similarly to stocks; however, investors are in fact buying and selling “units.” These units can be traded like stocks and also created or destroyed to meet investor demand. Each week, we track changes in shares outstanding to identify ETFs experiencing significant inflows (indicating many new units created) or outflows (showing many old units destroyed). The creation of new units necessitates purchasing the underlying holdings of the ETF, while the destruction of units involves selling off these holdings. Consequently, large flows can also influence the individual components held within ETFs.
Click here to find out which 9 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.
