For the fourth week in a row both hedge funds and private clients were net buyers of stocks while institutional investors were net sellers, that’s according to Bank of America Merrill Lynch’s weekly client equity flow trends research report.
The report notes that last week Bank of America clients brought $0.7 billion of ETFs but at the same time sold $0.2 billion of US single stocks, leading to net inflows of $0.9 billion.
The authors of the report note that this is yet another week of directionless buying, a trend which has been in place since mid-February when the post-election buying streak tailed off.
As Private Clients Buy Hedge Funds Continue To...
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