Investors Pull $8 Billion From Major Stock ETFs
- QQQ, SPY saw huge outflows amid most recent market rally
- Some investors likely awaiting next Fed meeting: WallachBeth
This article is for subscribers only.
Exchange-traded fund investors took Wednesday’s stock-market surge as an opportunity to offload $8 billion of holdings in two of the biggest equity funds.
Investors pulled $5.8 billion from the $380 billion SPDR S&P 500 ETF Trust (ticker SPY), marking the largest withdrawal since September. Meanwhile, the $162 billion Invesco QQQ Trust Series 1 (QQQ) saw an outflow of $2.1 billion, the biggest since July.