Gold Miners ETF Sees $162.1 Million in Outflows This Week

In an analysis of week-over-week changes in shares outstanding for various exchange-traded funds (ETFs), the Gold Miners ETF (Symbol: GDX) has recorded significant activity. Specifically, GDX experienced an outflow of approximately $162.1 million, representing a 1.1% decrease in shares outstanding, which dropped from 331,602,500 to 328,002,500.

The chart below illustrates the one-year price performance of GDX in comparison to its 200-day moving average:

According to the chart, GDX reached a low of $30.02 per share within its 52-week range, while the peak was at $45.645. The most recent trading price for GDX is $44.67. Evaluating this price against the 200-day moving average provides valuable insights for technical analysis.

ETFs function similarly to stocks, with investors purchasing and selling “units” instead of “shares.” These units can be traded 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 with notable inflows—indicating the creation of new units—or outflows—signifying the destruction of units. The creation of new units necessitates the purchasing of the underlying assets within the ETF, whereas the destruction of units involves selling those assets. Consequently, significant flows can also affect the individual components held within the ETFs.

Click here to find out which 9 other ETFs experienced notable outflows »

also see:

• NXDT Next Dividend Date
• Funds Holding OILU
• GCT Historical Stock Prices

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.