Buybacks double, hedge funds sell

The bank's latest Equity Client Flow Trends report, which compiles the buying and selling actions of clients from Hedge funds, institutional investors and private clients, shows that last week clients were "net buyers of US equities for the second consecutive week, and similar to last week, bought both single stocks and ETFs."

Year-to-date, cumulative selling by BoA's hedge fund clients is $3.2 billion, or $621 million excluding ETFs. Net selling by institutional investors is $7.9 billion or -$1.5 billion (sales) excluding ETFs. Retail investors have bought a total of $2.2 billion, making them the only group ( apart from corporates but more on that later) with positive inflows for the year. Excluding flows into ETFs, retail investors dumped a total...