When analyzing week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, a noticeable outflow has been detected in the Invesco QQQ. There has been an approximate $2.1 billion dollar outflow, signifying a 0.8% decrease week over week. This marks a decrease from 572,900,000 shares to 568,100,000. Among the largest underlying components of QQQ, trading activities indicate that Costco Wholesale Corp (Symbol: COST) is holding steady, Advanced Micro Devices Inc (Symbol: AMD) has observed a 2.9% increase, and PepsiCo Inc (Symbol: PEP) is down by about 3.3%.
The chart indicates the one-year price performance of QQQ versus its 200-day moving average. From the chart data, it’s evident that QQQ’s low point in its 52-week range is $285.19 per share, with $435.385 representing the 52-week high point, comparing favorably with the last trade price of $435.35. Furthermore, comparing the most recent share price to the 200-day moving average can be a useful technical analysis technique.
Insights into ETFs and Trading
Exchange traded funds (ETFs) function similarly to stocks. However, instead of ”shares”, investors buy and sell ”units”. These ”units” can be traded back and forth just like stocks, but can also be created or destroyed to meet investor demand. Monitoring week-over-week changes in shares outstanding data is essential to detect ETFs experiencing notable inflows, signaling the creation of many new units, or significant outflows indicating the destruction of several old units. The creation of new units will necessitate the purchase of underlying ETF holdings, while the destruction of units involves the sale of underlying holdings, potentially influencing the individual components held within ETFs.
Visit this link to find out which other 9 ETFs experienced notable outflows.
Additional Insights
- Also see: STER Options Chain
- Also see: CTO YTD Return
- Also see: Funds Holding PPIE