Direxion YINN Sees Significant $378M Outflow This Week
In an analysis of week-over-week changes in shares outstanding among ETFs, the Direxion Daily FTSE China Bull 3X Shares (Symbol: YINN) emerged as a notable case. The fund experienced an estimated outflow of approximately $378 million, representing a 15.5% decrease in shares outstanding from 53,892,767 to 45,542,767.
The chart below illustrates YINN’s one-year price performance alongside its 200-day moving average:
YINN’s share price has shown a considerable range over the past year, with a low of $17.02 and a high of $59.2605. The latest trading price for YINN is $44.04. Comparing current share prices to the 200-day moving average can be a valuable tool for technical analysis. For more insights on the 200-day moving average, visit here.
Exchange-traded funds (ETFs) operate similarly to stocks but involve the buying and selling of “units.” These units can be traded like shares, and they can also be created or eliminated based on investor demand. Each week, we track changes in shares outstanding to identify ETFs with significant inflows (indicating new unit creation) or outflows (indicating unit destruction). Creation of new units necessitates purchasing the underlying assets of the ETF, while unit destruction requires selling these holdings, leading to a potential impact on the components held within the ETFs.
Click here to discover which 9 other ETFs experienced notable outflows »
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