XLV - BofA reports inflows in stocks and outflows from ETFs last week

2024-01-17 15:16:24 ET

Bank of America reported that its clients put money into single stocks last week, while at the same time, exchange traded funds saw outflows. This came during a week when the S&P 500 ( SP500 ) advanced 1.8% .

In total, BofA clients were net buyers of U.S. equities to a tune of $0.9B for the week.

From a single stock perspective, BofA clients were net sellers of 7 of the 11 S&P sectors which were led by Consumer Staples. Furthermore, the financial institution noted that Consumer Staples have now also seen outflows for six consecutive weeks. On the other end, Communication Services and Health Care stocks experienced the largest influx of net new money.

Market participants pulled capital from exchange traded funds. Net outflows took place across all styles including growth ( NYSEARCA: VUG ), value ( NYSEARCA: VTV ), broad market funds ( SPY ) ( VOO ) ( IVV ) ( DIA ) ( QQQ ), and blended exchange traded funds.

Additionally, most ETF sectors experience outflows as well. The sectors that handed back the most significant amount of cash were Real Estate ETFs ( NYSEARCA: XLRE ) and Health Care ETFs ( XLV ).

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