OIH, SCO: Big ETF Outflows
updated Friday, June 17, 11:19 AM
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Oil Services ETF, where 2,800,000 units were destroyed, or a 6.9% decrease week over week. Among the largest underlying components of OIH, in morning trading today Schlumberger is up about 0.8%, and Halliburton is up by about 0.9%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares UltraShort Bloomberg Crude Oil, which lost 850,000 of its units, representing a 27.2% decline in outstanding units compared to the week prior.
For MarketNewsVideo.com, I'm Sayoko Murase