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UPDATE 1-Largest ETF takes in most cash in more than two years -spokesman
March 2, 2017 / 4:28 PM / in 9 months

UPDATE 1-Largest ETF takes in most cash in more than two years -spokesman

(Adds detail on ETF)

By Trevor Hunnicutt

NEW YORK, March 2 (Reuters) - Investors flooded the world’s largest exchange-traded fund on March 1 with the most new cash in more than two years, a spokesman said on Thursday, as they raced to capture gains in a soaring market.

The SPDR S&P 500 ETF (SPY) attracted $8.2 billion on Wednesday, the largest inflows since December 2014 and the ninth largest figure of all time for the fund, according to the spokesman.

The $241 billion fund, which tracks the closely watched S&P gauge of big U.S. corporations, was launched in 1993.

The Dow Jones Industrial Average on Wednesday soared past the 21,000 mark for the first time as investors took a brighter view of economic growth prospects after U.S. President Donald Trump’s first speech to Congress and as U.S. Federal Reserve officials suggested they may consider raising interest rates this month. (Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama and David Gregorio)

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