Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco QQQ, where 10,650,000 units were destroyed, or a 2.2% decrease week over week. Among the largest underlying components of QQQ, in morning trading today Apple is up about 1%, and Microsoft is relatively unchanged.
And on a percentage change basis, the ETF with the biggest outflow was the Invesco DWA Basic Materials Momentum ETF, which lost 440,000 of its units, representing a 38.9% decline in outstanding units compared to the week prior. Among the largest underlying components of PYZ, in morning trading today Freeport-Mcmoran is up about 0.7%, and Cleveland-cliffs is lower by about 0.2%.
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