LABU, OBOR: Big ETF Outflows
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the DIREXION DAILY STANDARD AND POORS BIOTECH BULL 3X SHARES, where 12,350,000 units were destroyed, or a 10.2% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the OBOR ETF, which lost 100,000 of its units, representing a 33.3% decline in outstanding units compared to the week prior.
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