(Bloomberg) -- A rip-roaring rally in raw materials, especially metals, sent investors piling into the largest U.S. multicommodity exchange-traded product.
The PowerShares DB Commodity Index Tracking Fund, ticker DBC, attracted more than $128 million in inflows last week, a period during which it gained 1.6 percent. That's the highest weekly inflow for the fund since October 2014, a month before OPEC pulled the rug out from under crude prices by failing to agree to production curbs.
DBC holds futures contracts for Brent and West Texas Intermediate crude, heating oil, gasoline, natural gas, gold, silver, soybeans, aluminum, zinc, copper, corn, wheat and sugar, as well as short-term U.S. debt.
While investors showed a healthy appetite for a broad basket of commodities, they eschewed specific ones. SPDR Gold Shares, ticker GLD, saw more than $200 million in withdrawals last week, while the United States Oil Fund LP, ticker USO, suffered over $60 million in outflows.
To contact the reporter on this story: Luke Kawa in New York at lkawa@bloomberg.net.
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Andrew Dunn, Brendan Walsh
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