SOXS, MRGR: 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 Semiconductors Bear 3x Shares, where 18,450,000 units were destroyed, or a 9.0% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Merger ETF, which lost 150,000 of its units, representing a 35.3% decline in outstanding units compared to the week prior. Among the largest underlying components of MRGR, in morning trading today American Woodmark is down about 2.2%, and Vital Energy is lower by about 3.7%.
VIDEO: SOXS, MRGR: Big ETF Outflows
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