(Reuters) – U.S.-based money-market funds attracted about $28 billion within the week ended Wednesday, their largest weekly influx since mid-Might, because the S&P 500 Index rose above 3,000 for the primary time on Wednesday.

It was cash funds’ third consecutive week of money inflows, with a four-week shifting common of $18.eight billion, in response to information by Refinitiv’s Lipper.

The transfer in secure, conservative money-market funds is notable because the S&P 500 Index and the Dow Jones Industrial Common rose above 3,000 and over 27,000 for the primary time, respectively, this week.

Earlier this yr, BlackRock CEO Larry Fink identified that mom-and-pop…

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