XLF, GASX: Big ETF Outflows
ETF Channel Staff - Wednesday, January 15, 12:16 PMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Financial Select Sector SPDR Fund (XLF), where 6.8 million units were destroyed, or a 0.9% decrease week over week. Among the largest underlying components of XLF, in morning trading today JP Morgan (JPM) is up about 1.8%, and Wells Fargo (WFC) is higher by about 2%.
And on a percentage change basis, the ETF with the biggest outflow was the Daily Natural Gas Related Bear 3x ETF (GASX), which lost 50,000 of its units, representing a 23.5% decline in outstanding units compared to the week prior.