ICI: ETFs Up in May
Increases were noted across all ETF categories as total assets in the funds reached $166.4 billion in May, from $162 billion the month before. The Total Domestic Equity Index gained $4.3 billion in assets in May to close at $138.3 billion, followed by the Global/International Equity Index adding $157 million, closing at $21.1 billion, and the Bond Index added $534 million, ending May with an aggregate of $6.89 billion, according to data supplied by the Investment Company Institute (ICI).
Additionally, the value of ETF shares issued in May exceeded that of shares redeemed by $1.97 billion. The total number of ETFs remains steady at 134.
Shares of exchange traded funds trade intraday on stock exchanges at market determined prices. Investors may buy or sell ETF shares through a broker just as they would the shares of any publicly traded company (See Black Box: Exchange-Traded Funds ).
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