SOXL, SMCZ: Big ETF Outflows

Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Direxion Daily Semiconductors Bull 3x Shares (SOXL), where 21,100,000 units were destroyed, or a 9.6% decrease week over week. Among the largest underlying components of SOXL, in morning trading today Micron Technology (MU) is off about 3.2%, and Nvidia (NVDA) is lower by about 1.2%.
And on a percentage change basis, the ETF with the biggest outflow was the Defiance Daily Target 2X Short SMCI ETF (SMCZ), which lost 90,000 of its units, representing a 38.1% decline in outstanding units compared to the week prior.

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