XME, PXMV: Big ETF Outflows
ETF Channel Staff - Tuesday, July 11, 10:46 AMLooking 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 Metals & Mining ETF (XME), where 10,649,770 units were destroyed, or a 32.6% decrease week over week. Among the largest underlying components of XME, in morning trading today Cliffs Natural Resources (CLF) is up about 0.1%, and Consol Energy (CNX) is higher by about 4%.
And on a percentage change basis, the ETF with the biggest outflow was the PowerShares Russell Midcap Pure Value Portfolio (PXMV), which lost 650,000 of its units, representing a 25.5% decline in outstanding units compared to the week prior. Among the largest underlying components of PXMV, in morning trading today Vistra Energy (VST) is off about 0.1%, and FirstEnergy (FE) is lower by about 0.2%.