Deals
Gundlach Plug Spurs Biggest Loan ETF Trade Since Late October
- Almost 3 million shares changed hands in a single block order
- Billionaire was asked where retiree could invest for 7% return
This article is for subscribers only.
Trading in an exchange-traded fund that buys leveraged loans soared after billionaire money manager Jeffrey Gundlach said that it could be a good investment for a retiree.
The $6 billion Invesco Senior Loan ETF, ticker BKLN, saw almost 3 million shares worth $69 million hit the tape at 9:45 a.m. in New York on Wednesday, the fund’s biggest block trade since Oct. 22, data compiled by Bloomberg show.