Significant Outflow Detected in iShares Short-Term High Yield ETF
Today, analysis of week-over-week changes in shares outstanding among ETFs reveals that the iShares 0-5 Year High Yield Corporate Bond ETF (Symbol: SHYG) has experienced a notable outflow. Approximately $377.2 million has left the fund, resulting in a 5.9% decrease in shares outstanding, decreasing from 152,000,000 to 143,000,000.
The chart below illustrates SHYG’s one-year price performance relative to its 200-day moving average:
According to the chart, SHYG’s lowest price in its 52-week range is $40.38 per share, while its highest point reached $43.4499. The ETF’s most recent trading price was marked at $41.39. Comparing this price against the 200-day moving average can serve as a helpful technique for technical analysis. You can learn more about the 200-day moving average here.
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Exchange Traded Funds (ETFs) function similarly to stocks; however, investors buy and sell “units” instead of shares. These units are tradable just like stocks and can also be created or destroyed to meet investor demand. Each week, we track the changes in shares outstanding to identify ETFs that are experiencing significant inflows or outflows. The creation of new units implies purchasing the underlying assets, while the destruction involves selling them. Hence, large cash flows can significantly affect the individual components held within ETFs. For additional insights, click here.
Learn which other nine ETFs have also seen notable outflows »
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
