16 Jan XLF, OILU: 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 Financial Select Sector SPDR Fund ( XLF ), where 38,100,000 units were destroyed, or a 3.2% decrease week over week. Among the largest underlying components of XLF, in morning trading today Berkshire Hathaway ( BRK.B ) is up about 1.5%, and JP Morgan Chase ( JPM ) is relatively unchanged.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares ProShares UltraPro 3x Crude Oil ETF ( OILU ), which lost 100,000 of its units, representing a 40.0% decline in outstanding units compared to the week prior.
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