SHOP - Investor Movement Index slips for first time in five months

2023-10-09 08:36:44 ET

The TD Ameritrade Investor Movement Index ( IMX ) fell slightly to 5.64 in September from 5.70 in August, the first monthly decrease in five months. The reading for the five-week period ended Sept. 29, 2023, ranks “moderate low” compared with historic averages.

The IMX is TD Ameritrade’s proprietary, behavior-based index, aggregating Main Street investor positions and activity to gauge what investors were doing and how they were positioned in the markets.

“September can be a brutal month for the markets, and although in some ways this one was no different, our clients still found opportunities to balance their overall exposure by rotating their sector-weighted holdings,” said Joe Mazzola, director of Trading and Education at Charles Schwab. “The IMX score did dip slightly as our clients reduced exposure to sectors that tend to get hit when wallets tighten, such as Consumer Discretionary, Energy and Information Technology.”

TD Ameritrade clients were net buyers overall during the period, but they did find names to sell, including: Exxon Mobil ( NYSE: XOM ), Affirm Holdings ( NASDAQ: AFRM ), Shopify ( NYSE: SHOP ), Tesla ( NASDAQ: TSLA ) and Intel ( NASDAQ: INTC ).

Overall, the strongest buying interest was in the Industrial, Consumer Staples, and Health Care sectors. Names that were bought in September included: Apple ( NASDAQ: AAPL ), NVIDIA ( NASDAQ: NVDA ), Arm Holdings ( NASDAQ: ARM ), AMC Entertainment Holdings ( NYSE: AMC ), Walt Disney ( NYSE: DIS ) and Realty Income ( NYSE: O ).

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