UCO, BJK: Big ETF Outflows
ETF Channel Staff - Thursday, July 27, 10:47 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 Ultra Bloomberg Crude Oil (UCO), where 5,900,000 units were destroyed, or a 10.3% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the Gaming ETF (BJK), which lost 200,000 of its units, representing a 22.2% decline in outstanding units compared to the week prior. Among the largest underlying components of BJK, in morning trading today Las Vegas Sands Corporation (LVS) is up about 1.4%, and MGM Resorts International (MGM) is lower by about 3.2%.