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 the 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 iShares Nasdaq Biotechnology ETF (IBB) where we have detected an approximate $217.3 million dollar inflow — that’s a 2.7% increase week over week in outstanding units (from 76,600,000 to 78,700,000). Among the largest underlying components of IBB, in trading today Amgen Inc (AMGN) is down about 0.4%, Biogen Inc (BIIB) is up about 0.1%, and Celgene Corp (CELG)is lower by about 2.3%. For a complete list of holdings, visit the IBB Holdings page »
The chart below shows the one year price performance of IBB, versus its 200 day moving average:
Looking at the chart above, IBB’s low point in its 52 week range is $100.221 per share, with $122.97 as the 52 week high point — that compares with a last trade of $102.83. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique
The iShares Nasdaq Biotechnology ETF (IBB) was trading at $103.08 per share on Monday afternoon, down $0.56 (-0.54%). Year-to-date, IBB has declined -3.46%, versus a -1.38% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of ETF Channel.