8 hours ago
Income-seeking investors snapped up $1.6 billion of these ETFs in June, according to State Street.
Investors went into risk-on mode in the bond market in June, pumping more than $1.6 billion into exchange-traded funds that hold bank loans and collateralized loan obligations, according to State Street research.
These funds have seen inflows for 13 consecutive months, bringing in more than $18 billion during that period, according to Matthew Bartolini, head of SPDR Americas research at State Street Global Advisors.
Select stocks in this space tout 30-day SEC yields above 6%.
You can learn more about higher yield ETFs here.
–Darla Mercado
8 hours ago
Tesla wins for 10th straight day
Electric car maker Tesla rose 3.7% on Tuesday, its 10th consecutive trading day of gains.
The stock has risen roughly 43% since its last sell-off on June 24. Over the past month, the stock has risen nearly 48%.
Despite the sharp rise, shares are only expected to rise a modest 5.6% in 2024 and are still down more than 4% over the past year.
Tesla’s latest share price gains were buoyed by the company’s second-quarter production and delivery report released last week. Street accounts said it delivered 443,956 vehicles in the quarter, beating analyst expectations of 439,000.
–Darla Mercado, Jason Gewirtz
10 hours ago
