Invesco S&P MidCap Momentum ETF Sees Significant $616 Million Outflow
Among the various exchange-traded funds (ETFs) tracked by ETF Channel, the Invesco S&P MidCap Momentum ETF (Symbol: XMMO) has experienced a remarkable decline. In just one week, the ETF recorded an outflow of approximately $616.0 million, translating to a 13.5% decrease in shares outstanding—from 35,620,000 to 30,820,000.
Today, some of XMMO’s key holdings reflect mixed results in trading. Williams Sonoma Inc (Symbol: WSM) fell by about 0.5%, while Interactive Brokers Group Inc – Class A (Symbol: IBKR) decreased approximately 0.6%. On a positive note, Reinsurance Group of America, Inc. (Symbol: RGA) rose roughly 0.3%. To view the complete list of holdings, visit the XMMO Holdings page.
The chart shown above outlines one-year price performance for XMMO alongside its 200-day moving average. Within the past year, XMMO’s shares have reached a low of $100.42 and a high of $137.14, with its last trade recorded at $128.62. Investors often use comparisons between the current share price and the 200-day moving average to gauge performance trends.
Exchange-traded funds function similarly to stocks; however, when investors buy and sell these ETFs, they are actually trading “units.” These units can be easily exchanged but can also be created or eliminated based on investor demand. Each week, we track changes in shares outstanding to identify ETFs facing significant inflows (indicating new units) or outflows (resulting in the destruction of old units). The creation of new units typically necessitates the purchase of underlying holdings, while unit destruction requires selling those holdings, potentially influencing the individual components within the ETFs.
Click here to find out which 9 other ETFs experienced notable outflows.
Further Reading:
- BDC Hedge Funds Are Buying
- VYMI Options Chain
- Institutional Holders of FLDM
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
