SPXS, SMST: 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 S&P 500 Bear 3X Shares, where 9,200,000 units were destroyed, or a 12.5% decrease week over week. And on a percentage change basis, the ETF with the biggest outflow was the SMST ETF, which lost 575,000 of its units, representing a 38.3% decline in outstanding units compared to the week prior.