PICK, UXI: Big ETF Outflows
updated Wednesday, September 21, 10:49 AMLooking 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 Global Metals & Mining Producers ETF (PICK), where 1,900,000 units were destroyed, or a 9.2% decrease week over week. Among the largest underlying components of PICK, in morning trading today Nucor Corporation (NUE) is up about 1.8%, and Alcoa (AA) is up by about 0.6%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Ultra Industrials (UXI), which lost 125,000 of its units, representing a 23.8% decline in outstanding units compared to the week prior. Among the largest underlying components of UXI, in morning trading today General Electric (GE) is up about 0.2%, and 3M (MMM) is higher by about 0.3%.
For MarketNewsVideo.com, I'm Sayoko Murase.