Israel-based Teva Pharmaceuticals (NASDAQ: TEVA) last week said it will pay $40.5 billion for Allergan (NYSE: AGN)'s generic drugs unit, a deal that sent shares of both companies higher on the week.
Teva's deal also sent investors rushing into Israel exchange traded funds. Although it might not sound like much, investors added a combined $33.6 million to the iShares MSCI Israel Capped ETF (NYSE: EIS) and the Market Vectors Israel ETF (NYSE: ISRA) last week. On a percentage basis, that is significant chunk of each ETF's current assets under management total.
With last week's inflows of nearly $20.2 million, EIS, the older of the two Israel ETFs, has nearly $141 million in assets under management. Thanks to inflows of $13.4 million last week, ISRA enters Monday with $72.4 million in AUM.
It's easy ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5727093/tevas-deal-making-spurs-inflows-to-israel-etfs alt=Teva's Deal-Making Spurs Inflows To Israel ETFs>Full story available on Benzinga.com
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