(Bloomberg) Investors yanked $716.9 million from the Technology Select Sector SPDR Fund, ticker XLK, in the week ended May 26, the biggest weekly exodus since January 2016, according to data compiled by Bloomberg. The same week, they added $1.78 billion in a single day to the PowerShares QQQ Trust Series 1 ETF, a fund that tracks the Nasdaq 100 Index. While not a pure tech play, QQQ holds companies like Amazon.com Inc. and Netflix Inc. that the SPDR fund lacks.
ETF Buyers Have a New Go-To Fund for Chasing the Tech Rally
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