GDX, XRT: Big ETF Outflows
updated Wednesday, October 31, 10:48 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 Gold Miners ETF (GDX), where 3,900,000 units were destroyed, or a 0.9% 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 1.9%.
And on a percentage change basis, the ETF with the biggest outflow was the SPDR S&P Retail ETF (XRT), which lost 3,300,000 of its units, representing a 25.6% decline in outstanding units compared to the week prior. Among the largest underlying components of XRT, in morning trading today Walgreens Boots Alliance (WBA) is up about 0.1%, and Childrens Place (PLCE) is higher by about 2%.
For MarketNewsVideo.com, I'm Sayoko Murase.