Jul
10
ETF Investors Pick Riskier Financials Over the Safety of Utilities
By-
Investors moving away from defensive plays as rates increase
- Financials ‘are very cheap,’ according to market strategist
With interest rates on the rise, exchange-traded fund investors are increasingly embracing risk, pulling cash out of defensive utilities and piling into more volatile financials.
Traders yanked almost $330 million from the Utilities Select Sector SPDR Fund, or XLU, Monday after three straight weeks of inflows. Meanwhile, the Financial Select Sector SPDR Fund, known as XLF, saw $368 million of inflows after four consecutive weeks of outflows…
ETF Investors Pick Riskier Financials Over the Safety of Utilities
