XLF, PRN: Big ETF Outflows Friday, October 16, 10:52 AM ET
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Financial Select Sector SPDR Fund (XLF), where 15,100,000 units were destroyed, or a 2.0% decrease week over week. Among the largest underlying components of XLF, in morning trading today Berkshire Hathaway Class B (BRK.B) is down about 0.1%, and Wells Fargo & Company (WFC) is lower by about 0.2%.
And on a percentage change basis, the ETF with the biggest outflow was the PowerShares DWA Industrials Momentum Portfolio (PRN), which lost 1,000,000 of its units, representing a 36.4% decline in outstanding units compared to the week prior. Among the largest underlying components of PRN, in morning trading today AMETEK (AME) is down about 1.6%, and Transdigm Group (TDG) is lower by about 0.3%.
For MarketNewsVideo.com, I'm Sayoko Murase.
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