XOP, SMH: 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 SPDR S&P Oil & Gas Exploration & Production ETF (XOP), where 4,400,000 units were destroyed, or a 19.8% decrease week over week. Among the largest underlying components of XOP, in morning trading today Tesoro Corporation (TSO) is up about 0.4%, and PBF Energy (PBF) is higher by about 2.5%.