GDX, DUG: Big ETF Outflows
updated Tuesday, October 27, 10:47 AMLooking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Gold Miners ETF (GDX), where 12,600,000 units were destroyed, or a 3.9% decrease week over week. Among the largest underlying components of GDX, in morning trading today Goldcorp (GG) is up about 0.7%, and Newmont Mining Corporation (NEM) is higher by about 0.7%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares UltraShort Oil & Gas (DUG), which lost 150,000 of its units, representing a 17.3% decline in outstanding units compared to the week prior.
For MarketNewsVideo.com, I'm Sayoko Murase.