iShares Expanded Tech Sector ETF Sees Large Outflow

Looking at the weekly movement of stocks in the universe of ETFs covered by ETF Channel today, one of the standouts is the iShares Expanded Tech Sector ETF (Symbol: IGM), where we detected an estimated outflow of $303.8 million – that’s a 5.7% week-over-week decline (from $56.1 million to $52.9 million). Of the larger underlying IGM components, in today’s trading, Micron Technology Inc. (Symbol: MU) is down about 1%, Analog Devices Inc (Symbol: ADI) is up about 0.3%, and Shopify Inc (Symbol: SHOP) is up about 0.1%. For the full list of holdings, visit IGM Holdings » . The chart below shows IGM’s year-to-date price performance compared to its 200-day moving average:

Looking at the chart above, IGM’s 52-week low is $60.69 per share, while its high is $95.97 — which compares to its last trade of $94.77. Comparing the most recent stock price to its 200-day moving average can also be a useful technical analysis technique — learn more about the 200-day moving average ».

Free Report: 8%+ Highest Dividends (paid monthly)

Exchange Traded Funds (ETFs) are traded like stocks, but instead of “shares,” investors actually buy and sell “units.” These “units” can be traded back and forth like stocks, but they can also be created or destroyed to meet investor demand. Each week, we monitor the weekly changes in the stock market data to look for ETFs experiencing significant inflows (many new units created) or outflows (many old units destroyed). The creation of new units will mean that the underlying asset of the ETF must be purchased, while the destruction of units involves the sale of the underlying asset, so large flows can also affect individual ETF components.

Click here to find out which 9 other ETFs saw significant outflows »

See also:

• PGJ YTD return
• VLY dividend history
• BHBK Videos

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.