Notable Outflow in Communication Services Sector
Examining the week-over-week changes in shares outstanding among ETFs, one notable standout is the Communication Services Select Sector SPDR Fund (XLC). An approximate $121.2 million outflow was detected, representing a 0.7% decrease from 206,150,000 to 204,800,000 shares.
Among the largest underlying components of XLC, Netflix Inc (NFLX) saw a marginal 0.1% increase in trading, Walt Disney Co. (DIS) experienced a 1.5% uptick, and AT&T Inc (T) rose by about 0.5%.
Exploring XLC’s one-year price performance relative to its 200-day moving average, the fund hit a low of $62.82 per share and a high of $90.98 over the past 52 weeks, with the last trade standing at $90.59.
When comparing the current share price to the 200-day moving average, investors often utilize this technique for technical analysis insights.
Exploring ETF Dynamics
Exchange-traded funds (ETFs) operate akin to stocks, where investors trade “units” instead of shares. These units can be created or destroyed to meet investor demand, influencing flows within the ETF.
Weekly monitoring of changes in shares outstanding data sheds light on ETFs with notable inflows (creation of new units) or outflows (destruction of old units), impacting the underlying components held within the ETF.
Discover 9 other ETFs with significant outflows »
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