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One Junk-Bond Buyer Just Saved $600,000 With 21-Second ETF Trade

From bnnbloomberg.ca

It could be the quickest return on an investment this year. An investor looks to have saved hundreds of thousands of dollars on Thursday by switching from one exchange-traded fund focused on junk bonds, to a cheaper ETF with a similar strategy. All told, the transactions took 21 seconds, and could reduce the trader’s investment bill by about $600,000. More than $350 million worth of shares in State Street Corp.’s SPDR Bloomberg Barclays High Yield Bond ETF, or JNK, hit the tape in two blocks at 12:46 p.m. in New York, data compiled by Bloomberg show. At the same time, more than $331 million of BlackRock Inc.’s ... (full story)

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