April fund flows knocked the SPDR Gold ETF GLD -0.01% out of the No. 2 spot among the largest exchange-traded funds as investors pulled out $6.77 billion, according to IndexUniverse late Wednesday.
That 18.8% drop left the ETF with $50.92 billion in assets under management. Gold prices GCM3 +0.53% dropped 7.8% over the month of April to $1,472.10 an ounce.
It also made the new No. 2 ETF the Vanguard FTSE Emerging Markets ETF VWO -0.01% , which also happened to be the second biggest loser as far as fund outflows with $1.55 billion. The fund is currently at $57.69 billion in assets under management.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Mingze Wu
centers on forex and macro-economic trends impacting the Asia Pacific region.
Latest posts by Mingze Wu (see all)
- European Bourses Not Enjoying Bullish Winds From US Stocks - 17 April 2014
- More Aggressive Stimulus Possible Despite Premier Li’s Denial - 17 April 2014
- China March FDI -1.5% Y/Y vs +2.05% expected. First decline in more than a year. - 16 April 2014