Reviewing the latest changes in ETF shares outstanding, the iShares iBoxx $ High Yield Corporate Bond ETF (Symbol: HYG) has attracted attention due to a notable outflow. There has been an approximate $492.0 million exit, resulting in a 3.2% decrease week over week, dropping from 198,500,000 to 192,200,000 shares.
The chart below illustrates HYG’s price performance over the past year, positioning it against its 200-day moving average:
Within this year’s trading range, HYG recorded a low of $75.59 per share and reached a high of $80.37. The most recent trade price stands at $78.42. Analyzing the latest share price in conjunction with the 200-day moving average can serve as an effective tool for technical analysis.
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Exchange-traded funds (ETFs) function similarly to stocks. However, investors are essentially trading ‘units’ rather than ‘shares’. These units can be circulated like stocks and can also be created or destroyed based on market demand. Each week, we track the changes in shares outstanding to identify ETFs that are experiencing notable inflows (indicating new units created) or outflows (implying units have been removed). When new units are created, the ETF must buy underlying assets, whereas destroying units means selling these assets. Therefore, substantial inflows or outflows can influence the individual assets held within ETFs.
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Additional Resources:
- Funds Holding BRS
- Cummins DMA
- WIX Videos
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