August 04, 2007 at 1:00 am by Tom Lydon
Last week market declines had an impact on exchange traded funds (ETFs), reports TrimTabs in Forbes. U.S. equity ETFs lost $5.7 billion, while global equity ETFs redeemed $586 million, which is the first outflow in eight weeks.
The lead U.S. equity redeemer was the Spiders (SPY), at 10.7% of assets. iShares MSCI Emerging Markets (EEM) was the leading redeemer for global ETFs at 4.5% of assets. The leading issuers were the Cubes (QQQQ) at 3.5% of assets and iShares MSCI Taiwan (EWT), which issued 1.8% of assets.
For full disclosure, some of Tom Lydon’s clients own EWT.
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