Butsaya
The global research team at Bank of America said that for the 10th consecutive week it saw equity buying from its clients during the week, which experienced a 3.3% decline in the S&P 500 (SP500). In total, BofA clients injected $3.1B into new positions as investors were buyers of both exchange traded funds as well as single stocks.
Both hedge fund and retail clients participated in the inflows. Meanwhile, institutional clients of BofA retracted capital. Additionally, hedge fund clients recorded their largest weekly influx of cash since July.
From a sector-by-sector basis, seven of the 11 S&P sectors observed weekly inflows. The segments that attracted the most significant amount of capital as it pertained to single stocks were Info Tech and Real Estate. At the same time, Utilities suffered the largest amount of capital outflows and the second biggest outflows in BofA’s data history going back to 2008.
On the exchange traded fund front, the area was able to garner its largest inflow of new money on a one-week basis since June. BofA clients were active participants and buyers across all styles from value, blend, and growth funds along with all sizes including small-, mid-, and large-cap funds as well as broad market ETFs (SPY), (DIA), (QQQ).
For the 15th straight week, value funds were able to bring in cash, while growth funds made it a 9th consecutive week of inflows. Moreover, from a sector vantage point, Health Care (NYSEARCA:XLV) (NYSEARCA:VHT) exchange traded funds were able to pull in the most significant amount of net new capital of any sector on the trading week.
