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Notable ETF outflow detected – TQQQ, AMAT, PANW, ADP

Notable ETF outflow detected – TQQQ, AMAT, PANW, ADP

Today, looking at the weekly changes in stock outstandings across the ETF universe covered by ETF Channel, one that stands out is the ProShares UltraPro QQQ (Symbol: TQQQ), where we saw an outflow of approximately $541.1 million – the equivalent of one Decline of 1.8% week over week (from 316,700,000 to 310,900,000). TQQQ’s largest underlying components today include Applied Materials, Inc. (Symbol: AMAT) up about 0.4%, Palo Alto Networks, Inc (Symbol: PANW) down about 1.3% and Automatic Data Processing Inc. (Symbol: ADP) is higher by about 0.4%. For a full list of holdings, visit the TQQQ Holdings page » The chart below shows TQQQ’s one-year price performance compared to its 200-day moving average:

ProShares UltraPro QQQ 200-day moving average chart

Looking at the chart above, TQQQ’s low point in its 52-week range is $45.47 per share, with $93.7892 as its 52-week high – compared to a recent trading of $91.21. Comparing the last stock price to the 200-day moving average can also be a useful technical analysis technique – learn more about the 200-day moving average ».

Exchange traded funds (ETFs) trade like stocks, but instead of “stocks,” investors actually buy and sell “shares.” These “units” can trade back and forth like stocks, but can also be created or destroyed to meet investor demand. Each week we monitor the weekly change in shares outstanding data to look for ETFs that are seeing significant inflows (lots of new units being created) or outflows (lots of old units being destroyed). Creating new units means that the underlying holdings of the ETF must be purchased, while destroying units requires selling the underlying holdings, so large inflows can also impact the individual components contained in ETFs.

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

See also:

• Dividend yield
• YVR shares an outstanding story
• LIVX stock predictions

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

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