QQQ, GASL: Big ETF Outflows
ETF Channel Staff - Friday, April 22, 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 PowerShares QQQ (QQQ), where 11,250,000 units were destroyed, or a 3.2% decrease week over week. Among the largest underlying components of QQQ, in morning trading today Apple (AAPL) is down about 0.5%, and Microsoft (MSFT) is lower by about 8.1%.
And on a percentage change basis, the ETF with the biggest outflow was the Daily Natural Gas Related Bull 3x Shares (GASL), which lost 600,479 of its units, representing a 29.2% decline in outstanding units compared to the week prior.