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 21,250,000 units were destroyed, or a 15.6% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the Invesco Dynamic Oil & Gas Services ETF, which lost 5,230,000 of its units, representing a 33.8% decline in outstanding units compared to the week prior. Among the largest underlying components of PXJ, in morning trading today Championx is down about 1.7%, and Patterson-uti Energy is lower by about 2.8%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
