When observing week-over-week shares outstanding changes among the array of covered ETFs, a clear standout emerges in the form of the Invesco NASDAQ 100 ETF (Symbol: QQQM), with an approximate $1.0 billion dollar inflow. This marks a 5.1% increase week over week in outstanding units, soaring from 114,730,000 to 120,630,000. Noteworthy constituents of QQQM include Tesla Inc (Symbol: TSLA), displaying a 1.8% uptick, Adobe Inc (Symbol: ADBE), experiencing a 0.7% decline, and T-Mobile US Inc (Symbol: TMUS), observing a 0.7% dip in trading.
Performance Snapshot
The chart below illustrates the one-year price performance of QQQM juxtaposed with its 200-day moving average:
QQQM’s low point in its 52-week range stands at $117.35 per share while its 52-week peak reaches $176.94, with the most recent trade settling at $175.71. When comparing the latest share price to the 200-day moving average, it can also yield valuable insights as a technical analysis technique.
Behind the Curtain
ETFs, akin to stocks, are tradable entities referred to as ”units”. Investors actively engage in buying and selling of these ”units”, which can be traded back and forth just like stocks and can also be generated or eliminated to meet investor demand. Weekly surveillance of the week-over-week change in shares outstanding data allows for anticipation of ETFs with noteworthy inflows, denoting the creation of numerous new units, or outflows, marking the destruction of a considerable number of old units. The inception of new units necessitates the acquisition of underlying holdings, while the dissolution of units entails the liquidation of said underlying holdings. As a result, substantial flows can exert an influence on the individual components housed within ETFs.
If you want to explore 9 other ETFs undergoing significant inflows, click here to find out more.