XOP, DRIP: Big ETF Outflows
ETF Channel Staff - Thursday, August 25, 11:09 AM
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the SPDR S&P Oil & Gas Exploration & Production ETF, where 4,750,000 units were destroyed, or a 8.9% decrease week over week. Among the largest underlying components of XOP, in morning trading today Chesapeake Energy is up about 1.4%, and Rice Energy is lower by about 0.1%.
And on a percentage change basis, the ETF with the biggest outflow was the Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares, which lost 2,400,000 of its units, representing a 36.9% decline in outstanding units compared to the week prior.