Cyber-Crime ETFs Sputter as Meme Stocks Absorb Market’s ‘Oxygen’
(Bloomberg) — Cybersecurity-focused ETFs are struggling to capitalize on a slew of high-profile hacks that have prompted the White House to urge every U.S. company to beef up security measures.
The $2.2 billion ETFMG Prime Cyber Security exchange-traded fund (HACK) and the Global Xs Cybersecurity ETF (BUG) have seen little in the way of inflows. The former notched just $13 million in May after two straight months of outflows, according to data compiled by Bloomberg.
The White House told corporate…
