Record Inflows in the ETF Market
When delving into the latest changes in weekly shares outstanding among ETFs tracked at ETF Channel, a standout performer emerges – the Invesco QQQ.
Reports indicate a staggering influx of approximately $3.6 billion into Invesco QQQ (Symbol: QQQ), marking an astounding 1.2% surge in outstanding units week over week (rising from 599,400,000 to 606,650,000). Within the top holdings of QQQ, Meta Platforms Inc (Symbol: META) took a slight dip of 0.7%, Tesla Inc (Symbol: TSLA) witnessed a 1% decline, while Costco Wholesale Corp (Symbol: COST) saw a commendable 0.9% increase.
If we were to peek at the chart depicting QQQ’s one-year price performance against its 200-day moving average, one can’t help but take note of the financial rollercoaster that Invesco QQQ has ridden.
Performance Insights
The chart showcased above indicates that Invesco QQQ’s lowest point in its 52-week range stands at $342.35 per share, with $503.52 marking its highest pinnacle. Last trading saw QQQ at $493.06. Evaluating the latest share price against the 200-day moving average offers a valuable technical analysis technique which seasoned investors often swear by.
ETFs, akin to stocks, are traded in the market as units. Investors buying and selling these units on a daily basis have to adapt to the constant ebb and flow of the financial tide. Each week, a meticulous observation of the week-over-week shift in shares outstanding data is conducted in order to pinpoint ETFs that are experiencing substantial inflows or outflows. The creation of new units signifies that the underlying holdings of the ETF must be procured. Conversely, the destruction of units implies selling the underlying assets, prompting a ripple effect on the individual components constituting the ETF.
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