iShares Broad USD High Yield Corporate Bond ETF Faces $163.8 Million Outflow
Recent Changes in ETF Shares Outstanding
Looking at changes in shares outstanding among various ETFs this week, the iShares Broad USD High Yield Corporate Bond ETF (Symbol: USHY) stands out with a notable outflow. This fund experienced an outflow of approximately $163.8 million, which is a 0.9% decrease from last week, dropping from 504,400,000 to 500,000,000 shares.
Price Performance and Technical Analysis of USHY
The chart above illustrates USHY’s price performance over the past year against its 200-day moving average. In the last 52 weeks, the lowest price recorded was $35.55 per share, while the highest reached $37.72. Currently, USHY is trading at $37.29. This comparison of the latest price to the 200-day moving average can be insightful for technical analysis enthusiasts.
Exchange-traded funds (ETFs) operate similarly to stocks; however, instead of “shares,” investors are buying and selling “units.” These units can be traded just like stocks but can also be created or destroyed based on investor demand. Each week, we monitor the changes in shares outstanding to identify ETFs that experience significant inflows (new units created) or outflows (old units destroyed). The creation of new units means the ETF’s underlying assets must be purchased, while the destruction of units requires selling those assets. Therefore, large flows can affect the individual components held within ETFs.
Click here to learn about 9 other ETFs that experienced significant outflows »
Also see:
- Top Ten Hedge Funds Holding SFEB
- NRP Average Annual Return
- Institutional Holders of DECA
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
