(Bloomberg) -- Risk appetite is back with a vengeance.
As U.S. stocks rose to a nearly four-week high on Monday, inflows into the benchmark exchange-traded fund for technology shares jumped to the second-most on record, according to the latest data available.
Money managers sank at least $2.7 billion into the PowerShares QQQ Trust Series 1 ETF, which follows the Nasdaq 100 Index, bringing assets under management to an all-time high of $65.7 billion.
The inflow as a proportion of the fund’s total assets before the trading session represents a hefty 4.4 percent, underscoring how money managers are making peace with higher U.S. yields.
Another case in point: investors on Monday also poured $5 billion into the mighty SPDR S&P 500 ETF Trust (AX:SPY), the world’s biggest fund, with $280 billion in assets. That’s the third-largest daily inflow this year, after a record wave of redemptions earlier in February.