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Consumer Discretionary Select Sector SPDR Fund Experiences Big Outflow

By Market News Video Staff, Wednesday, May 23, 10:56 AM ET
Play Video: The Importance of ETFs

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Symbols mentioned in this story: XLY, DIS, CMCSA, HD

Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Consumer Discretionary Select Sector SPDR Fund (AMEX:XLY) where we have detected an approximate $111.5 million dollar outflow -- that's a 3.5% decrease week over week (from 73,753,252 to 71,153,252). Among the largest underlying components of XLY, in trading today Walt Disney Co. (NYSE:DIS) is off about 0.6%, Comcast Corp (NASDAQ:CMCSA) is down about 1.1%, and Home Depot Inc (NYSE:HD) is lower by about 0.4%. For a complete list of holdings, visit the XLY Holdings page

The chart below shows the one year price performance of XLY, versus its 200 day moving average:

Consumer Discretionary Select Sector SPDR Fund 200 Day Moving Average Chart

Looking at the chart above, XLY's low point in its 52 week range is $33.07 per share, with $46.27 as the 52 week high point that compares with a last trade of $42.71. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average .

Special Offer: Find out what Dave Moenning is holding in the ETF Channel Flexible Growth Investment Portfolio with 30 Days Free.

This Article's Word Cloud:   AMEX   Among   CMCSA   Channel   Comcast   Comparing   Consumer   Corp   Creation   Dave   Days   Depot   Discretionary   Disney   ETFs   Each   Exchange   Find   Flexible   Free   Looking   NYSE   about   also   average   chart   components   created   destroyed   holdings   just   like   many   moving   outstanding   over   point   price   selling   share   shares   stocks   that   today   trade   traded   underlying   units   week   with
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