SPDR Portfolio Intermediate Term Corporate Bond ETF Sees $536.2 Million Outflow

Today, we observe significant changes in shares outstanding among various ETFs tracked by ETF Channel. A notable example is the SPDR Portfolio Intermediate Term Corporate Bond ETF (Symbol: SPIB), which experienced approximately $536.2 million in outflows. This represents a 5.7% week-over-week decline, with shares decreasing from 284,800,072 to 268,600,072.

The chart below illustrates SPIB’s one-year price performance compared to its 200-day moving average:

In examining the chart, SPIB’s 52-week low stands at $32.015 per share, while its high reaches $33.8599. The most recent trade showed a price of $33.14. Analyzing the latest share price against the 200-day moving average may provide additional insight into market trends.

Exchange-Traded Funds (ETFs) function similarly to stocks; however, instead of “shares,” investors trade “units.” These units are interchangeable like stocks and can also be created or destroyed based on investor demand. Each week, we analyze changes in shares outstanding to identify ETFs with notable inflows, indicating the creation of new units, or outflows, signifying the destruction of existing units. The creation of new units necessitates purchasing underlying assets, while unit destruction involves selling off these assets. Consequently, large flows can affect the individual components held within these ETFs.

To explore which other ETFs are experiencing significant outflows, click here.

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