US investors sold stocks for the second consecutive week last week after having been net buyers for the prior 14 weeks since the election, that’s according to Bank of America Merrill Lynch’s weekly client flow trends report. The report, which was released yesterday, notes that the trend of selling stocks, which began two weeks ago has continued throughout the end of February with all of the bank’s clients selling equity holdings.
Net single stock sales totaled $988 million for the week eclipsing small purchases of ETFs. Hedge funds, institutional investors, and private clients all sold equities with hedge funds extending their selling streak to four consecutive weeks.
BOA: Investors Are Dumping Stocks
Thanks to selling over the past fortnight, four-week average flows...
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