Stock Market News

BofA clients were were net sellers last week

2024.05.07 14:00

BofA clients were were net sellers last week

In its equity client flow trends note this week, analysts at Bank of America said its institutional, hedge fund and private clients were all net sellers of US equities last week.

While buybacks remained strong, BofA noted single stock driven selling last week, with clients selling stocks but buying ETFs.

“All major client groups were net sellers, led by institutional clients, who have sold US equities in six of the last seven weeks,” said analysts at BofA. “Hedge funds and private clients were sellers for the first time in three weeks. Clients sold large and mid caps but bought small caps (fourth straight week of small cap inflows).”

The bank also highlighted big outflows from financials and consumer discretionary stocks, the largest outflows since March 2022, and July 2023, respectively.

1Q results have suggested some cracks emerging in the US consumer, with ‘value’ and ‘trade-down’ frequent soundbites, though employment data and real wage growth remain positive,” added analysts at BofA. “Clients also sold Staples stocks for a second week.”



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,377.36 0.01%
ethereum
Ethereum (ETH) $ 3,389.81 0.82%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 253.20 0.93%
bnb
BNB (BNB) $ 660.19 0.77%
xrp
XRP (XRP) $ 1.47 0.95%
dogecoin
Dogecoin (DOGE) $ 0.425494 2.55%
usd-coin
USDC (USDC) $ 1.00 0.02%
cardano
Cardano (ADA) $ 1.05 1.23%
staked-ether
Lido Staked Ether (STETH) $ 3,390.19 0.78%
tron
TRON (TRX) $ 0.2094 2.95%
avalanche-2
Avalanche (AVAX) $ 42.61 0.50%
stellar
Stellar (XLM) $ 0.522395 6.72%
the-open-network
Toncoin (TON) $ 6.14 6.34%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 4.01%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,006.86 0.96%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,074.28 0.01%
polkadot
Polkadot (DOT) $ 9.14 2.16%
chainlink
Chainlink (LINK) $ 18.09 2.29%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.36 0.20%
weth
WETH (WETH) $ 3,389.89 0.83%
sui
Sui (SUI) $ 3.44 0.65%
near
NEAR Protocol (NEAR) $ 6.94 2.05%
pepe
Pepe (PEPE) $ 0.00002 2.25%
leo-token
LEO Token (LEO) $ 8.66 0.28%
litecoin
Litecoin (LTC) $ 97.00 4.28%
aptos
Aptos (APT) $ 12.41 3.98%
uniswap
Uniswap (UNI) $ 11.01 1.77%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,570.26 0.73%
internet-computer
Internet Computer (ICP) $ 11.82 1.42%
hedera-hashgraph
Hedera (HBAR) $ 0.144225 3.34%
usds
USDS (USDS) $ 1.00 0.11%
crypto-com-chain
Cronos (CRO) $ 0.189503 4.43%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.563551 2.10%
ethereum-classic
Ethereum Classic (ETC) $ 29.04 3.23%
render-token
Render (RENDER) $ 7.97 0.31%
bittensor
Bittensor (TAO) $ 532.11 1.53%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.49 2.61%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
kaspa
Kaspa (KAS) $ 0.152601 0.57%
bonk
Bonk (BONK) $ 0.000047 0.48%
whitebit
WhiteBIT Coin (WBT) $ 24.45 1.20%
vechain
VeChain (VET) $ 0.043113 0.41%
arbitrum
Arbitrum (ARB) $ 0.852681 2.90%
dai
Dai (DAI) $ 1.00 0.02%
cosmos
Cosmos Hub (ATOM) $ 8.67 3.69%
blockstack
Stacks (STX) $ 2.25 5.83%
okb
OKB (OKB) $ 56.12 4.02%
filecoin
Filecoin (FIL) $ 5.58 4.28%
mantra-dao
MANTRA (OM) $ 3.70 1.86%