IWM, GDJJ: Big ETF Outflows
ETF Channel Staff - Thursday, May 28, 10:54 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 Russell 2000 ETF (IWM), where 12,000,000 units were destroyed, or a 5.2% decrease week over week. Among the largest underlying components of IWM, in morning trading today Qorvo (QRVO) is off about 2.9%, and Isis Pharmaceuticals (ISIS) is lower by about 2.3%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Ultra Junior Miners (GDJJ), which lost 50,000 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 0.6%.