XLU, UYM: Big ETF Outflows
updated Thursday, September 11, 12:14 PMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Utilities Select Sector SPDR Fund (XLU), where 5,800,000 units were destroyed, or a 4.2% decrease week over week. Among the largest underlying components of XLU, in morning trading today Duke Energy (DUK) is up about 0.3%, and Nextera Energy (NEE) is lower by about 0.4%.
And on a percentage change basis, the ETF with the biggest outflow was the Proshares Ultra Basic Materials (UYM), which lost 900,000 of its units, representing a 32.4% decline in outstanding units compared to the week prior. Among the largest underlying components of UYM, in morning trading today Air Products & Chemicals (APD) is down about 2.1%, and Airgas (ARG) is relatively unchanged.
For MarketNewsVideo.com, I'm Sayoko Murase