GDX, CMDT: Big ETF Outflows

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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 10,600,000 units were destroyed, or a 3.2% decrease week over week. Among the largest underlying components of GDX, in morning trading today Newmont Mining Corporation ( NEM ) is off about 0.6%, and Barrick Gold Corporation ( ABX ) is lower by about 1.1%.

And on a percentage change basis, the ETF with the biggest outflow was the iShares Commodity Optimized Trust ( CMDT ), which lost 150,000 of its units, representing a 37.5% decline in outstanding units compared to the week prior.

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