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XLF, SCC: Big ETF Outflows

By: BNK Invest
Posted: 8/4/2014 12:10:00 PM
Referenced Stocks: XLF;WFC;SCC

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 22,500,000 units were destroyed, or a 2.8% decrease week over week. Among the largest underlying components of XLF, in morning trading today Wells Fargo & Company ( WFC ) is up about 1%, and Berkshire Hathaway Class B (BRK.B) is up by about 1.4%.

And on a percentage change basis, the ETF with the biggest outflow was the Proshares UltraShort Consumer Services ( SCC ), which lost 150,000 of its units, representing a 28.6% decline in outstanding units compared to the week prior.

XLF, SCC: Big ETF Outflows VIDEO: XLF, SCC: Big ETF Outflows