BofA clients favored ETFs over single stocks last week

Financial institution of America’s international analysis group outlined on Tuesday that its purchasers noticed inflows from alternate traded funds whereas single inventory positions recorded outflows within the week the place the S&P 500 (SP500) superior by 2.2%. In whole, BofA purchasers had been capable of appeal to $1.2B on the week, principally from the ETF facet of enterprise.

From a single inventory place, the monetary establishment watched people withdraw money from the area for the fourth week in 5. Moreover, retail purchasers discovered themselves to be the biggest retractors on the week.

Of the 11 S&P sectors, BofA purchasers discovered themselves to be total sellers in seven of them. The outflow cost was led by Industrials which additionally noticed the segments fourth largest money extraction in BofA’s information historical past (dates to 2008). On the different facet although was Communication Companies and Info Know-how as the 2 led all sectors in single inventory inflows.

Switching gears to ETFs, and the financial institution highlighted that inflows had been seen throughout the board from small-, mid-, and large-cap funds, in addition to development (NYSEARCA:VUG), worth (NYSEARCA:VTV), and broad spectrum (NYSEARCA:VOO) (DIA), (QQQ) funds.

The weekly alternate traded fund sector chief in keeping with BofA was the Data Tech (XLK) area, whereas Shopper Discretionary ETFs (XLY) seen probably the most vital sector outflows.