Investors are still feeling the love for exchange traded funds (ETFs), as assets continue to pour into them. ETFGuide reports that the combined assets of U.S. ETFs grew by $37.08 billion to $588.18 billion in October, according to the Investment Company Institute (ICI).
That’s a 6.7% jump from September, and a staggering 48.8% jump compared to October 2006! Back then, assets in the ETF industry stood at $395.3 billion.
With hundreds of new ETFs in the pipeline, don’t be surprised if assets in them continue to grow.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.