The largest exchange-traded fund to track the U.K. equity market rallied on Tuesday, jumping to its highest level since 2015 and extending its strong year-to-date advance.
The iShares MSCI United Kingdom ETF
gained 0.9% to $34.56, the highest level for the fund since December 2015.
The advance came as U.K. traded blue-chip stocks surged to record levels, aided by a drop in the pound
and the latest read on inflation. The FTSE 100 index
surpassed 7,500 for the first time in its history as it finished at an all-time high.
The fund has been in a pronounced uptrend of late. It is on track for its third straight daily advance, as well as its ninth positive session of the past 12 trading days. It is up more than 12.6% thus far in 2017, with more than half of that coming over the past month.
Tuesday’s climb came in large part on Vodafone
U.S.-listed shares of which jumped 4% following a bullish profit forecast. The telecom giant also raised its dividend by 2%. Vodafone is one of the largest components of the ETF, accounting for about 3% of the portfolio.
Investors have taken notice of the fund’s gains, with nearly $450 million pouring into it year-to-date, according to FactSet data, bringing its total assets to $2.6 billion.
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