Largest Saudi Stock ETF Has First Outflow on Week of Tanker Fire - Bloomberg:
The largest exchange-traded fund tracking Saudi Arabian shares registered the first weekly outflow since its creation as geopolitical tension with Iran escalated.
Investors in the Invesco MSCI Saudi Arabia UCITS ETF, traded in London, pulled out about $426 million last week, a first since the fund’s inception about one year ago. The ETF has around $1.2 billion in total assets and tracks shares trading in Riyadh.
The outflow on Friday was of $211 million, a day after stock indexes across the Gulf slumped after two oil tankers were damaged near the Strait of Hormuz, with Iran later being blamed by the U.S. and the Saudi government. The negative flow added to a $215 million pullout before the attacks happened.
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