Bank of America clients kept buying U.S. equities last week, extending their streak of net purchases to four consecutive weeks, according to Bloomberg data cited by BlockBeats on July 29. Institutional investors led the move, posting their biggest weekly net buying total since December 2020. The figure was also the second-highest weekly level in Bank of America records dating back to 2008. Retail investors were net buyers as well, while hedge funds turned into net sellers for a third straight week. Sector-level flows showed the strongest demand in technology, financials and industrials. Industrials stood out in particular, recording demand at a record level after months of outflows. By contrast, communication services, energy and materials were the weakest areas in the latest allocation data. The update points to a broad but uneven buying pattern across BofA’s client base, with institutions driving the largest part of last week’s equity inflows.
Bank of America clients remained active buyers of U.S. stocks last week, stretching their net buying streak to four weeks, according to Bloomberg data cited by BlockBeats on July 29.
Institutional investors led the flow, posting the largest weekly net purchases since December 2020. The total also ranked as the second-highest weekly reading in Bank of America records going back to 2008. Retail investors continued to buy, while hedge funds were net sellers for a third consecutive week.
By sector, technology, financials and industrials drew the strongest inflows. Industrials were a standout after months of outflows, logging record demand. Communication services, energy and materials were the weakest segments.
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