XLF, PEZ: Big ETF Outflows
ETF Channel Staff - Tuesday, January 22, 10:52 AMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Financial Select Sector SPDR Fund (XLF), where 28,250,000 units were destroyed, or a 2.9% decrease week over week. Among the largest underlying components of XLF, in morning trading today Berkshire Hathaway (BRK.B) is off about 0.9%, and JP Morgan Chase (JPM) is lower by about 1.6%.
And on a percentage change basis, the ETF with the biggest outflow was the Invesco DWA Consumer Cyclicals Momentum ETF (PEZ), which lost 400,000 of its units, representing a 38.1% decline in outstanding units compared to the week prior. Among the largest underlying components of PEZ, in morning trading today Eldorado Resorts (ERI) is down about 2.3%, and Burlington Stores (BURL) is lower by about 0.1%.