XLF, AXUP: Big ETF Outflows

32,700,000 units of the Financial Select Sector SPDR Fund were destroyed, a 3.4% week-over-week decline — the largest outflow among ETFs covered by ETF Channel. The redemption indicates short-term investor repositioning away from the financial sector and could exert modest downward pressure on the fund if outflows persist.

Analysis

32,700,000 units of the Financial Select Sector SPDR Fund were destroyed, a 3.4% week-over-week decline — the largest outflow among ETFs covered by ETF Channel. The redemption indicates short-term investor repositioning away from the financial sector and could exert modest downward pressure on the fund if outflows persist.