Shares outstanding

What is it?

Shares outstanding is the total number of ETF shares currently available in the market. This includes shares held by institutional and retail investors and those used in market-making activities.

Why is it important?

• Liquidity and trading efficiency – a higher number of shares outstanding generally indicates better liquidity and narrower bid-ask spreads.
• Fund size and investor demand – the number of outstanding shares reflects investor interest.
• Net Asset Value (NAV) impact – shares outstanding affect the calculation of an ETF’s NAV per share.