Hedge fund clients of Bank of America sold equities for the first time in six weeks last week according to the bank’s weekly Client Equity Flow Trends report. According to the report,, hedge funds sold single stocks for the first time in six weeks last month while institutional investors as a whole remained the biggest net sellers, as has been the case since mid-March - there is also some interesting data on corporate Buybacks.
Corporate Buybacks tank
As hedge funds and institutional investors dumped stocks, Bank of America’s private clients were buying last week. Private clients were net buyers for the sixth straight week, with flows finding their way into ETFs and Telecom stocks chiefly. Corporate clients and buyback activity ticked...
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