So far in August, 2018, 26% of all UEX sales have come out of Global X's URA ETF as part of the re-balancing excercise. By the end of the month Total Aug sales of UEX from URA will likely reach/exceed 3,000,000 shares.
The UEX weight within URA was 1.62% at the beginning of August 2018 and will likely end in the area of 1.3% at the end of August 2018. If this projection holds true, then roughly speaking, that works out to be a 19.8% reduction in the weighting with only a 9.1% reduction in the number of shares held. This is yet another indication that URA is holding on to as many UEX shares as they can.
I will update this at the end of the month along with some other numbers that I am following.
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