Investors Are Pouring Money Into Tech Stocks Once Again
- SPDR’s XLK posted the most inflows for the week in over a year
- QQQ took in $2 billion last week as cost of hedging plunges
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Investors are once again warming up to the year’s hottest sector -- technology.
Even after regulatory and demand concerns cast a shadow over the industry, the S&P 500 Information Technology Index remains the best performer of 2018, gaining more than 10 percent. Last week, Facebook Inc. shares surged past their price before the Cambridge Analytica scandal broke, while the other members of the FANG cohort -- Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc. -- climbed as well.