BofA says clients sold equities for largest weekly outflow since late 2020
Investing.com -- BofA Securities clients were net sellers of U.S. equities in the final week of August, with $8.0 billion in outflows, marking the largest weekly exodus since late 2020 amid economic uncertainty.
“All major client groups were net sellers for a second week in a row,” the note says. “Selling was again led by institutional and hedge fund clients, while private clients have the longest recent selling streak .” In terms of size and style, clients sold Blend ETFs, but they continued to buy both Growth and Value ETFs for the fourth and 24th consecutive weeks, respectively. Broad Market and Large/Mid Cap ETFs saw outflows, but Small Cap ETFs were bought for the third consecutive week.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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