XLK, DRIP: Big ETF Outflows Friday, February 3, 10:53 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 XLK: Technology Select Sector SPDR Fund, US Equities (XLK), where 4,550,000 units were destroyed, or a 1.4% decrease week over week. Among the largest underlying components of XLK, in morning trading today Apple (AAPL) is up about 0.4%, and Microsoft (MSFT) is up by about 0.2%.
And on a percentage change basis, the ETF with the biggest outflow was the Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares (DRIP), which lost 350,000 of its units, representing a 17.7% decline in outstanding units compared to the week prior.
For MarketNewsVideo.com, I'm Sayoko Murase.
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