Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Bank of America institutional clients sold U.S. stocks for the first time in three weeks

Bitget2024/08/27 20:11

Bank of America clients pulled $4.6 billion from U.S. stocks last week, ending a two-week buying spree as companies slowed share buybacks. Quantitative strategists including Jill Carey Hall wrote in a note to clients on Tuesday that all major client groups, except for corporations, were net sellers, with institutions and hedge funds that bought the previous week leading the liquidation. Technology stocks saw their first withdrawal of funds in three weeks, with the largest outflows among 11 industry groups. Meanwhile, communications services stocks attracted inflows for the 21st consecutive week.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!