IYE, GDJJ: Big ETF Outflows
ETF Channel Staff - Thursday, June 4, 10:51 AMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the iShares U.S. Energy ETF (IYE), where 11,150,000 units were destroyed, or a 24.2% decrease week over week. Among the largest underlying components of IYE, in morning trading today Exxon Mobil Corporation (XOM) is off about 0.6%, and Chevron Corporation (CVX) is lower by about 0.3%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Ultra Junior Miners (GDJJ), which lost 49,999 of its units, representing a 25.0% decline in outstanding units compared to the week prior. Among the largest underlying components of GDJJ, in morning trading today Market Vectors Junior Gold Miner (GDXJ) is off about 1.2%.