Investors Place Record Bet that Market Winners Will Keep Winning
- MTUM fund skewed to tech, banking posts biggest weekly inflow
- Strategy defies warnings of excess, looming correction
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As U.S. stocks roar into the new year, investors are betting the highest fliers will add more fuel to the overheating market.
Over the five days through Friday, investors added $474 million to the iShares Edge MSCI USA Momentum Factor ETF, or MTUM, the largest sum since the funds inception in 2013, data compiled by Bloomberg show. Previously the weekly inflow record was $221 million -- which MTUM had absorbed just the week before.