GDX, UGE: Big ETF Outflows
updated Thursday, October 1, 10:51 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 5,400,000 units were destroyed, or a 1.6% decrease week over week. Among the largest underlying components of GDX, in morning trading today Goldcorp (GG) is trading flat, and Newmont Mining (NEM) is up by about 0.4%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Ultra Consumer Goods (UGE), which lost 50,000 of its units, representing a 25.0% decline in outstanding units compared to the week prior.
For MarketNewsVideo.com, I'm Sayoko Murase.