SQQQ, BCHP: Big ETF Outflows
ETF Channel Staff - Friday, July 31, 10:55 AMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the ProShares UltraPro Short QQQ (SQQQ), where 5,400,000 units were destroyed, or a 28.6% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the EGShares EGAI Developed Markets Blue Chip EM Access ETF (BCHP), which lost 150,000 of its units, representing a 37.5% decline in outstanding units compared to the week prior. Among the largest underlying components of BCHP, in morning trading today Kansas City Southern Industries (KSU) is down about 0.8%, and Nuveen Mortgage Opportunity Term Fund (JMT) is lower by about 0.2%.