SQQQ, PUI: Big ETF Outflows
ETF Channel Staff - Wednesday, December 7, 10:50 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 1,650,000 units were destroyed, or a 3.9% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the PowerShares DWA Utilities Momentum Portfolio (PUI), which lost 1,150,000 of its units, representing a 20.5% decline in outstanding units compared to the week prior. Among the largest underlying components of PUI, in morning trading today PG&E Corporation (PCG) is up about 1%, and Duke Energy Corporation (DUK) is up by about 0.8%.