Investors might be withdrawing billions from the stock market, but apparently not technology. At least that’s what happened last week. Between Sept. 4 and Sept. 10, U.S. equity funds shed a significant $10.44 billion, the largest in more than a month, based on data from LSEG Lipper, cited by Reuters. But tech-themed ETFs ignored the rout, taking in $3.42 billion of net inflows, the sector’s third consecutive week of gains.
At the center of this trend is the Technology Select Sector SPDR Fund (NYSE:XLK), perhaps the most mass-market means of investing in the tech titans. With its leading holdings of Microsoft Corp (NASDAQ:MSFT), Apple Inc (NASDAQ:AAPL), and Nvidia Corp (NASDAQ:NVDA), XLK has become a gauge of megacap momentum. The fund is up around 18% this year, and its liquidity makes it an institutional and retail investor favorite for broad exposure to tech.
