XLF, MZZ: Big ETF Outflows
ETF Channel Staff - Thursday, October 30, 12:39 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 19,500,000 units were destroyed, or a 2.5% decrease week over week. Among the largest underlying components of XLF, in morning trading today Berkshire Hathaway Class B (BRK.B) is down about 0.7%, and Wells Fargo & Company (WFC) is lower by about 0.2%.
And on a percentage change basis, the ETF with the biggest outflow was the Proshares UltraShort MidCap400 (MZZ), which lost 49,502 of its units, representing a 19.5% decline in outstanding units compared to the week prior.