Record Cash Pours Into $4 Billion Fund in Infrastructure Bet
- Global X’s PAVE takes in most cash in single day on record
- Progress on Biden’s plan gives traders optimism on the sector
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Investors are finally getting bullish about President Joe Biden’s infrastructure plan, judging by this week’s ETF flows.
They plowed $263 million into the Global X U.S. Infrastructure Development (PAVE) in the latest session for which data is available. While the fund flow is still small in the context of the $6.6 trillion U.S. ETF industry, it marks the largest one-day inflow for the $4 billion fund, indicating a sudden demand for exposure to companies involved in construction and engineering.