Big Money Leaving Equities: 968.1M Outflow from S&P 500 index
May 07, 2012
– Comments (1) |
RELATED TICKERS: SPY
, IWM
, DIA
ETF Fund Flows: SPY Loses $968.1 Million By Dave Nadig and Olivier Ludwig | May 04, 2012 Related ETFs:
CSJ /
TIP /
IWM /
UST /
JNK /
SPY Investors pulled $968.1 million from the SPDR S&P 500 ETF (NYSEArca: SPY), making it No.1 on IndexUniverse’s “Top 10 Redemptions” list. Stocks fell as investor concern grew over a government monthly jobs report due to be released today.
Net outflows were $1.85 billion and total assets under management fell to a little under $1.201 trillion from $1.210 trillion on Wednesday, May 2.
The Dow Jones industrial average fell 61.98 points, or 0.5 percent, to close at 13,206.59. Pushing stocks down was concern about the state of U.S. jobs stoked by a report from the Institute of Supply Management showing the employment component of its service-related sector index had fallen to a four-month low. The S&P 500 fell 10.74 points, or 0.8 percent, to close at 1,391.57.
The No. 2 fund on the redemptions list was the iShares Russell 2000 Index Fund (NYSEArca: IWM), which suffered $652.5 million in outflows. The No. 3 fund on the redemptions list was the iShares Barclays TIPS Bond Fund (NYSEArca: TIP), which had $321.1 million in outflows.
U.S.-focused equity ETFs had outflows of $2.34 billion.
Read entire article:
RSS Headlines
Fool UK