Despite 3% Increase In Spot Price Of Gold, GLD Loses Close To A Billion In AUM - ETF Winners And Losers: Large-Cap Flows
Portfolio Pulse from Johnny Rice
A screening of large-cap ETFs revealed that SPDR S&P 500 ETF Trust (SPY) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) had the largest positive returns, adding $502.21 million and $490.03 million in net assets respectively. On the other hand, iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and SPDR Gold Shares (GLD) lost $1.01 billion and $871.39 million in net assets respectively. Despite a 3% increase in the spot price of gold, GLD lost close to a billion in AUM.
October 24, 2023 | 10:27 am
News sentiment analysis
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NEGATIVE IMPACT
GLD lost $871.39 million in net assets over the trailing week, despite a 3% increase in the spot price of gold.
The loss of $871.39 million in net assets, despite a 3% increase in the spot price of gold, indicates a negative investor sentiment towards GLD, which could potentially drive its price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
HYG lost $1.01 billion in net assets over the trailing week.
The loss of $1.01 billion in net assets indicates a negative investor sentiment towards HYG, which could potentially drive its price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BIL was up $490.03 million in AUM on the week.
The increase in AUM indicates a positive investor sentiment towards BIL, which could potentially drive its price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SPY added $502.21 million in net assets over the trailing week.
The addition of $502.21 million in net assets indicates a positive investor sentiment towards SPY, which could potentially drive its price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100