franckreporter
Bank of America’s global research team reported Tuesday that last week saw net equity client outflows for the first week since October, a period in which the S&P 500 (SP500) ended higher by 0.2%. Outflows were observed across hedge fund and institutional clients that totaled $1B.
From a single stock perspective, the banks clients found themselves to be overall net sellers in seven of the eleven S&P sectors. The segment that observed the most significant amount of cash extractions was the Health Care space, which now has notched its fifth straight week of outflows. At the other end, the Info Tech and Communication Services areas were able to pull in the largest amount of inflows.
Looking at exchange traded funds, BofA clients were net buyers as inflows were seen across multiple styles including growth (NYSEARCA:VUG), value (NYSEARCA:VTV), and blended funds along with large-, mid-, and small-cap funds. Additionally, broad market ETFs (NYSEARCA:DIA), (NYSEARCA:SPY), (VOO), (IVV), (QQQ) also were able to garner inflows.
On a sector-by-sector view, the ETFs that watched the most significant amount of money leave was the Consumer Staples (XLP) space. Meanwhile, Consumer Discretionary ETFs (XLY) noticed the biggest injection of net new weekly cash.
