QQQ, RDVY: Big ETF Outflows
ETF Channel Staff - Wednesday, March 29, 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 PowerShares QQQ (QQQ), where 7,200,000 units were destroyed, or a 2.0% decrease week over week. Among the largest underlying components of QQQ, in morning trading today Apple (AAPL) is down about 0.1%, and Microsoft (MSFT) is lower by about 0.1%.
And on a percentage change basis, the ETF with the biggest outflow was the First Trust Rising Dividend Achievers ETF (RDVY), which lost 1,949,998 of its units, representing a 29.1% decline in outstanding units compared to the week prior. Among the largest underlying components of RDVY, in morning trading today Archer Daniels Midland Company (ADM) is up about 0.4%, and Nike (NKE) is higher by about 0.5%.