EEM, GDJJ: Big ETF Outflows
Metals Channel - Friday, November 20, 10:47 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 iShares MSCI Emerging Markets ETF (EEM), where 17,100,000 units were destroyed, or a 2.6% decrease week over week. Among the largest underlying components of EEM, in morning trading today Credicorp (BAP) is up about 0.6%, and Southern Copper Corporation (SCCO) is higher by about 0.9%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Ultra Junior Miners (GDJJ), which lost 50,001 of its units, representing a 33.3% decline in outstanding units compared to the week prior.