UVXY, FONE: Big ETF Outflows

Turning today to week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest outflow was seen in the Proshares Ultra VIX Short-Term Futures ETF (UVXY), which shed 11.2 million shares, or a 18.9% decrease week over week. And on a percentage change basis, the ETF with the largest outflow was the First Trust NASDAQ CEA Smartphone Index Fund (FONE), which lost 150,000 of its shares, for a whopping 33.3% decline in outstanding shares.