Stock Market News

BofA Reports Increased Investor Demand for Shares

2023.01.31 10:02

BofA Reports Increased Investor Demand for Shares
BofA Reports Increased Investor Demand for Shares

BofA Reports Increased Investor Demand for Shares

By Kristina Sobol  

Budrigannews.com – The gained 2.5% last week, when customers of Bank of America also bought U.S. stocks after selling them the week before. The clients of BofA were net buyers ($0.1 billion) who preferred single stocks to ETFs.

“The spread this month between single stock and ETF flows was the widest ever for Jan. in our data since ’08 (chart below), despite the fact that stocks typically see more positive flows than ETFs. Our opinion: In a client note, BofA strategists wrote that “index” will be replaced by “outdex” in the year 23.

The previous week, all three client groups – retail, institutional, and hedge funds – were sellers. The first time in three weeks were hedge funds, the fourth time in a row were institutional clients, and the first time in two weeks were private clients.

Clients were purchasing stocks in six of the eleven sectors, with Communication Services, Healthcare, and Technology leading the way.

“Tech/Comm. Despite the risks we see, services have also led inflows to date: The strategists added, “still bloated labor relative to real sales growth even after layoffs, weakening fundamentals, and the fact that Tech=cyclical.”

Last but not least, they also pointed to the week’s strong buybacks and weak buyback announcements.

BofA Reports Increased Investor Demand for Shares

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 81,980.97 2.72%
ethereum
Ethereum (ETH) $ 3,159.77 1.47%
tether
Tether (USDT) $ 1.00 0.13%
solana
Solana (SOL) $ 217.04 5.15%
bnb
BNB (BNB) $ 618.84 3.03%
dogecoin
Dogecoin (DOGE) $ 0.286663 16.40%
usd-coin
USDC (USDC) $ 1.00 0.10%
xrp
XRP (XRP) $ 0.58111 4.33%
staked-ether
Lido Staked Ether (STETH) $ 3,157.84 1.58%
cardano
Cardano (ADA) $ 0.596684 3.58%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 0.35%
tron
TRON (TRX) $ 0.165092 0.61%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,765.16 0.81%
the-open-network
Toncoin (TON) $ 5.29 2.61%
avalanche-2
Avalanche (AVAX) $ 32.06 1.44%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,813.92 2.71%
weth
WETH (WETH) $ 3,160.03 1.38%
sui
Sui (SUI) $ 3.21 8.33%
chainlink
Chainlink (LINK) $ 13.96 5.02%
bitcoin-cash
Bitcoin Cash (BCH) $ 434.32 3.34%
polkadot
Polkadot (DOT) $ 5.12 3.56%
leo-token
LEO Token (LEO) $ 7.24 4.07%
near
NEAR Protocol (NEAR) $ 5.24 8.32%
aptos
Aptos (APT) $ 11.85 8.29%
litecoin
Litecoin (LTC) $ 76.65 1.76%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,326.14 1.35%
uniswap
Uniswap (UNI) $ 8.91 5.56%
usds
USDS (USDS) $ 0.989933 1.66%
pepe
Pepe (PEPE) $ 0.000012 1.72%
internet-computer
Internet Computer (ICP) $ 8.99 3.04%
bittensor
Bittensor (TAO) $ 566.50 5.23%
crypto-com-chain
Cronos (CRO) $ 0.147262 19.59%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.48 0.94%
kaspa
Kaspa (KAS) $ 0.151791 1.57%
ethereum-classic
Ethereum Classic (ETC) $ 22.60 3.59%
dai
Dai (DAI) $ 1.00 0.12%
stellar
Stellar (XLM) $ 0.109435 1.65%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.40467 2.20%
dogwifcoin
dogwifhat (WIF) $ 3.01 12.94%
whitebit
WhiteBIT Coin (WBT) $ 20.86 4.16%
blockstack
Stacks (STX) $ 2.01 9.55%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.17%
monero
Monero (XMR) $ 158.55 4.05%
aave
Aave (AAVE) $ 186.61 3.38%
okb
OKB (OKB) $ 44.50 1.26%
injective-protocol
Injective (INJ) $ 26.42 2.06%
mantle
Mantle (MNT) $ 0.763189 5.58%
filecoin
Filecoin (FIL) $ 4.17 1.88%
arbitrum
Arbitrum (ARB) $ 0.625332 2.62%
render-token
Render (RENDER) $ 6.11 9.41%