A $9 Billion Flip-Flop by ETF Traders Shows Unease Over Stocks
- ETFs tracking the S&P 500 Index have seen diverging flows
- Stocks have rallied as investors look past virus concern
This article is for subscribers only.
Investors can’t seem to make up their minds on whether U.S. stocks are headed for new highs -- or poised for a correction.
Traders poured almost $5 billion into the Vanguard S&P 500 ETF on Friday, the biggest one-day inflow for the $138 billion fund since its inception in 2010, data compiled by Bloomberg show. But just three days after that vote of confidence, more than $3.7 billion exited the $307 billion SPDR S&P 500 ETF Trust, which follows the same broad index of large American companies.