Equity Client Flow Trends

BofA clients recorded massive outflows in US equities last week, dominated by historic selling in the Technology sector. Institutional investors led the divestment, while demand for equity ETFs remained positive for the 11th week.

Key Takeaways

• 1.Clients were record net sellers of US equities, driven by record single stock outflows of $14.2bn in the tech sector.
• 2.Selling was primarily driven by institutional clients, while hedge funds and private clients also sold equities.
• 3.Clients continued buying equity ETFs, marking the 11th consecutive week of inflows.

Table of Contents

• BofA Securities Equity Client Flow Trends
• Record Tech outflows
• Biggest Tech outflows ever
• ETFs: Value>Growth; big Health Care ETF inflows
• Cumulative flows by year
• Weekly flows by client, sector, & size
• Corporate client buybacks
• ETF flow color
• Rolling four-week average trends by sector (single stock)
• Rolling four-week average trends by client type
• Rolling four-week average trends by market cap
• ETF flows: z-scores (3m and 1yr)
• Equity ETF flows: 4-week average flows by sector
• Equity ETFs: 4-week average flows by strategy
• Equity ETFs: 4-week average flows by market cap
• Cumulative equity sector flows: single stock vs. ETF
• Cumulative Equity ETF flows by Size and Style
• Addendum: Institutional flow: broker-dealer vs. other
• Appendix
• Disclosures

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