- Investors pushed more than $16.5 billion into stock ETFs over seven trading days as equities rebounded from their coronavirus-induced lows, Bloomberg reported Monday.
- ETFs are on pace to beat the $42.5 billion inflow seen through December, when stocks posted one of their last major rallies of the 11-year bull market.
- Healthcare ETFs added nearly $3 billion alone, as traders looked to the sector for a response to the pandemic.
- The move back into stock funds arrives days before a historically risky earnings season kicks off. Companies are poised to reveal for the first time how hard the outbreak harmed financial performance.
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Investors chasing the stock market rebound added more than $16.5 billion to equity exchange-traded funds over seven trading days, Bloomberg reported Monday.
Stocks have bounced from their late-March lows as trillions of dollars in stimulus from Congress and the Federal Reserve relieve key market stressors. Last week saw markets post their best weekly gain since 1974 and pushed stocks further out of their recent bearish zone.
The recent ETF inflows put the vehicles on pace to trounce the total $42.5 billion taken in over December's broad rally, according to Bloomberg. Healthcare-focused funds took in nearly $3 billion alone, with the SPDR Health Care Select Sector fund seeing a record $1.9 billion one-day inflow on Wednesday. BlackRock's iShares US Medical Devices ETF saw a record one-day inflow of $578 million on Thursday, Bloomberg reported.
Read more: Billionaire Chamath Palihapitiya has reaped a 997% return since 2011. He shares his 3-part strategy for today's coronavirus-hit market - and outlines how he's mining real estate for opportunities.
Allocator-focused ETFs, which are usually purchased by longer-term investors, took in $41.1 billion over the first quarter, according to Bloomberg. ETFs most popular with professional traders lost $27 billion during the same period.
The shifts into stock ETFs arrive just before one of the riskiest earnings seasons in years. First-quarter reports are set to arrive starting Tuesday, when Johnson & Johnson, JPMorgan, and Wells Fargo are among the first firms to reveal how hard the coronavirus hit their performance.
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