Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
New Year’s SALE: Up to 40% OFF InvestingPro+ CLAIM OFFER
Bank of America's Data Shows Hedge Funds Continue to Sell Equities
© Reuters
Bank of America (NYSE:BAC) equity & quant strategist Jill Carey Hall said today that the firms flows show the continuation of the most recent trends in the stock market.
Overall, clients were small net sellers of US equities, led by hedge funds, which continued to sell equities for the fourth consecutive week. On the other hand, institutional and retail clients resumed buying equities with retail leading the way again.
"Our retail client flows have been a positive - not contrary - indicator of subsequent near-term S&P 500 returns, and actually a slightly better signal than hedge fund flows," Carey Hall said in a client note.
Clients were selling stocks in 7 of the 11 sectors with Consumer Discretionary and Financials suffering the most with the selling of the former the largest since Aug. 2020 and the third-largest in our weekly data history since 2008.
"We have been cautious on labor-intensive Consumer Discretionary stocks as wages have continued to rise - and the sector currently ranks worst in our tactical S&P 500 sector ranks and has been deteriorating in rank in our small cap sector ranks."
On the other hand, Industrials and Materials saw the biggest inflows, while clients were also buying Real Estate and Staples equities.
When it comes to buybacks, last week's activity was the lowest in the past 11 months "suggesting a tepid read on broader S&P 500 buybacks in 1Q."
By Senad Karaahmetovic
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.