NUGT, GGOV: Big ETF Outflows
ETF Channel Staff - Friday, May 1, 11:31 AMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Daily Gold Miners Index Bull 3x Shares (NUGT), where 5,250,000 units were destroyed, or a 7.3% decrease week over week. Among the largest underlying components of NUGT, in morning trading today Market Vectors Gold Miners ETF (GDX) is up about 0.5%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares German Sovereign/Sub-Sovereign ETF (GGOV), which lost 50,000 of its units, representing a 33.3% decline in outstanding units compared to the week prior.