Weekly Commodity ETF Flows: Investors Dump XLE, Take Profits on GLD and SLV
Hard Assets Investor submits:
By Sumit Roy
Goldman Sachs spoke and the markets listened, as investors heeded the investment bank’s advice to take profits in select commodities. In turn, $2 billion flowed out of commodity-related exchange-traded products, while overall assets in the space dropped $3.2 billion due to falling prices. Four of the five sectors saw outflows, led by energy, where investors pulled a whopping $1.3 billion out of related ETPs. The precious metals sector came in a distant second, but still experienced a substantial $403 million in outflows. Agriculture and broad market (multicommodity) products followed, with $158 million and $145 million in outflows, respectively. The industrial metals sector managed to buck the trend, as it added $22 million of investor capital, but it remains by far the smallest of the five sectors, with a mere $4.1 billion in total assets. Looking at individual ETPs, the largest energy ETF was responsible for virtually allComplete Story »
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