Investors Flock to BlackRock Tech ETF -- in Europe, That Is
Photographer: SAEED KHAN/AFP via Getty Images
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European investors are making some big bets on U.S. technology.
This year, the Europe-listed iShares S&P 500 Information Technology Sector ETF, ticker IUIT, has added $579 million, bringing its total assets to a record $1.1 billion. What’s more, the BlackRock Inc. fund, which holds tech stalwarts like Apple Inc., Microsoft Corp. and Facebook Inc., has experienced just one day of outflows since the start of the year -- Jan. 29, when investors pulled $6.2 million.