GDX, LTL: Big ETF Outflows
updated Thursday, October 6, 10:48 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 14,200,500 units were destroyed, or a 3.4% decrease week over week. Among the largest underlying components of GDX, in morning trading today Newmont Mining Corporation (NEM) is off about 2.7%, and Barrick Gold Corporation (ABX) is lower by about 3.7%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Ultra Telecommunications (LTL), which lost 25,000 of its units, representing a 33.3% decline in outstanding units compared to the week prior. Among the largest underlying components of LTL, in morning trading today AT&T (T) is off about 0.3%, and Verizon Communications (VZ) is lower by about 0.4%.
For MarketNewsVideo.com, I'm Sayoko Murase.