SDS, IGN: Big ETF Outflows
ETF Channel Staff - Friday, July 1, 10:52 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 UltraShort S&P500 (SDS), where 16,250,000 units were destroyed, or a 13.1% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the iShares North American Tech-Multimedia Networking ETF (IGN), which lost 500,000 of its units, representing a 26.3% decline in outstanding units compared to the week prior. Among the largest underlying components of IGN, in morning trading today Harris Corporation (HRS) is off about 0.5%, and Cisco Systems (CSCO) is higher by about 0.4%.