Trader Makes Big Move in Financials ETF
- Investor traded $106 million of XLF in pre-market action
- Fund has seen nine days of outflows, longest streak since 2014
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The outflows from the world’s largest exchange-traded-fund tracking U.S. banks might not be over, as a massive block trade for the fund hit before the stock market opened Wednesday.
One investor moved almost 4 million shares worth $106 million of the Financial Select Sector SPDR Fund, ticker XLF, at 8:48 a.m., the largest trade in more than a month.