GDX, EBND: Big ETF Outflows
The Online Investor - 1 hour, 47 minutes ago
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 12,900,000 units were destroyed, or a 4.0% decrease week over week. Among the largest underlying components of GDX, in morning trading today Barrick Gold (ABX) is off about 3.7%, and Newmont Mining (NEM) is lower by about 6.2%.
And on a percentage change basis, the ETF with the biggest outflow was the SPDR Barclays Emerging Markets Local Bond ETF (EBND), which lost 600,000 of its units, representing a 22.2% decline in outstanding units compared to the week prior.