The World's Largest Tech ETF Just Reeled in $616 Million in One Day
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The tech bet is back. At least that seems to be the case for buyers of exchange-traded funds.
Investors just poured heaps of cash into the $21 billion Technology Select Sector SPDR Fund, the largest ETF globally tracking stocks of technology companies. Known by its ticker XLK, the fund has been a go-to bet for buyers looking for cheap and broad tech exposure, charging a low expense ratio of 13 basis points. The fund saw almost $616 million in inflows on Thursday, the most since December 2011, according to data compiled by Bloomberg.