August 27, 2018 / 7:12 PM / in 24 days

BUZZ-Investor buys $640 mln of S&P 500 ETF as index hits record

** An investor bought nearly $640 mln of the SPDR S&P 500 ETF as the index charged to a record high

** More than 2.2 mln shares changed hands at $289.40 apiece in a set of trades contingent upon one another, a block trade for one investor, at 10:27 a.m. New York time (Thomson Reuters data); SPY was last up 0.78 pct to $289.75

* The trade pushed SPY volume to 2.4 mln total at 10:28, far higher than the 100,000 shr/min avg the rest of the day and the 11th most active minute of trading for the ETF this month

** The purchase came before an announcement that the United States and Mexico reached a deal to replace the North American Free Trade Agreement

** The S&P 500 has pushed deeper into record territory since closing above the Jan 26 high/close on Fri, partly on enthusiasm that such a deal might be reached

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