GDX, CMDT: Big ETF Outflows
ETF Channel Staff - Tuesday, August 4, 10:48 AMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Gold Miners ETF (GDX), where 3,500,000 units were destroyed, or a 1.0% decrease week over week. Among the largest underlying components of GDX, in morning trading today Goldcorp (GG) is up about 1.1%, and Newmont Mining Corporation (NEM) is relatively unchanged.
And on a percentage change basis, the ETF with the biggest outflow was the iShares Commodity Optimized Trust (CMDT), which lost 200,000 of its units, representing a 40.0% decline in outstanding units compared to the week prior.