SPDR S&P 500 ETF Sees $2.38B Net Outflows

The SPDR S&P 500 ETF witnessed net outflows of $2.38 billion on July 28, 2011.

The SPDR S&P 500 ETF witnessed net outflows of $2.38 billion on July 28, 2011, Index Universe reports. On the other hand, the ETF SPDR Gold Shares collected $924.8 million in new assets and become a $65.5 billion fund.

The move comes as investors looked to the precious metal as a dependable store of value, as compared to dollar and dollar-denominated assets. In total, U.S. listed ETF assets lowered to nearly $1.110 trillion from just above $1.115 trillion on July 27, 2011.

Click here for the story from Index Universe.