Bof A clients extend U.S. stock-buying streak to six weeks as investment hits highest level since 2008
Bank of America’s hedge-fund clients extended their streak of net purchases of U.S. stocks to six weeks in the week ended Aug. 7, with investment reaching its highest level since 2008 after a near-record buying week, according to strategists led by Jill Carey Hall in a research note. Clients put $4.1 billion into exchange-traded funds and withdrew $2.4 billion from individual stocks during the week. Institutional and retail clients were both net sellers, while corporate clients accelerated share buybacks. Clients sold seven of the 11 sectors. Industrials recorded the largest outflow, while technology posted its second-largest week of inflows ever. (Bloomberg)
Bank of America’s hedge-fund clients extended their streak of net purchases of U.S. stocks to six weeks in the week ended Aug. 7, with investment reaching its highest level since 2008 after a near-record buying week, according to strategists led by Jill Carey Hall in a research note.
Clients put $4.1 billion into exchange-traded funds and withdrew $2.4 billion from individual stocks during the week. Institutional and retail clients were both net sellers, while corporate clients accelerated share buybacks.
Clients sold seven of the 11 sectors. Industrials recorded the largest outflow, while technology posted its second-largest week of inflows ever. (Bloomberg)
Clients put $4.1 billion into exchange-traded funds and withdrew $2.4 billion from individual stocks during the week. Institutional and retail clients were both net sellers, while corporate clients accelerated share buybacks.
Clients sold seven of the 11 sectors. Industrials recorded the largest outflow, while technology posted its second-largest week of inflows ever. (Bloomberg)