SPDR S&P Biotech ETF Sees Significant $458 Million Outflow
Weekly Changes Spotlight Financing Shifts in Biotech ETFs
Looking at recent changes in shares outstanding for ETFs, the SPDR S&P Biotech ETF (Symbol: XBI) stands out with an approximate $458.3 million outflow. This marks a 6.2% decrease from last week, dropping from 78,050,000 shares to 73,175,000 shares. Notable components of XBI include Natera Inc (Symbol: NTRA), which is down about 0.5%, Incyte Corporation (Symbol: INCY), down about 0.8%, and United Therapeutics Corp (Symbol: UTHR), which remains relatively unchanged. For a full list of holdings, please visit the XBI Holdings page »
The chart above illustrates XBI’s performance over the past year compared to its 200-day moving average. The ETF’s low point in its 52-week range is $71.99 per share, while the high is $105.47. The most recent trade shows a price of $93.23. Analysts often use comparisons between current prices and the 200-day moving average to assess market trends—learn more about the 200-day moving average ».
Exchange-traded funds (ETFs) operate similarly to stocks, though investors buy and sell “units” instead of “shares.” These units can be exchanged daily and can also be created or destroyed to meet investor demand. Every week, we monitor changes in shares outstanding to track ETFs that experience notable inflows (with new units created) or outflows (with old units destroyed). If new units are created, the ETF must purchase the underlying holdings; conversely, when units are destroyed, the ETF sells its underlying parts. Hence, large flows can notably impact the individual stocks held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Additional Information:
- ALLT Price Target
- SHLO Insider Buying
- Institutional Holders of NBN
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