Bank of America clients were net buyers of U.S. equities for a third straight week, the firm said Today
After starting Tuesday’s trading session stronger, U.S. stocks turned lower shortly after midday, while Bank clients recorded net inflows of $516 million, BofA reported.
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BofA Clients buying the dip in stocks!
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Today, the biggest gainer in the market today were Nautilus: The fitness-products maker said a potential sale of the company is being considered, part of a broader review of strategic alternatives launched by its board. Its shares climbed 7.2% premarket.
Lucid Group: The electric-vehicle maker’s shares gained 3.6% premarket. Cantor Fitzgerald gave the stock a buy rating and set a price target of $23, according to Benzinga.
Last week, the S&P 500 declined 4.6%.
Buying was led by hedge funds, the sole net buyers of U.S. stocks last week. Private clients and institutional clients were net sellers.
Healthcare stocks saw the biggest net inflows, while consumer discretionary shares recorded the largest net outflows, the bank said. Clients sold exchange-traded funds and bought individual stocks in aggregate.