GDX, MMTM: Big ETF Outflows
ETF Channel Staff - Tuesday, January 17, 10:49 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 6,900,000 units were destroyed, or a 15.8% decrease week over week. Among the largest underlying components of GDX, in morning trading today Barrick Gold (ABX) is up about 2.9%, and Newmont Mining (NEM) is up by about 2.3%.
And on a percentage change basis, the ETF with the biggest outflow was the SPDR S&P 1500 Momentum Tilt ETF (MMTM), which lost 50,000 of its units, representing a 25.0% decline in outstanding units compared to the week prior. Among the largest underlying components of MMTM, in morning trading today Amazon.com (AMZN) is down about 0.8%, and Microsoft (MSFT) is lower by about 0.6%.