“While there is not a perfect correlation between flows and investor intent—for example, heavy inflows can indicate that investors are building short positions, or betting on a decline—pronounced outflows can be a signal that market participants are closing out positions,” according to MarketWatch.
As MarketWatch notes, the PowerShares NASDAQ Internet Portfolio (NasdaqGM: PNQI) has also seen some modest departures. Investors pulled $5.2 million from PNQI on Tuesday. That ETF allocates almost a quarter of its combined weight to Alphabet, Amazon.com Inc. (NASDAQ: AMZN) and Netflix Inc. (NASDAQ: NFLX).
PNQI provides exposure to the growth style of the increasingly important internet segment, especially the quickly growing e-commerce or online consumer discretionary segment. The ETF holds 89 stocks, including some companies based outside the U.S.
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Tom Lydon’s clients own shares of Apple, Facebook and QQQ.