Equity Client Flow Trends Big Tech Inflows During Sector Rally

BofA clients remained net buyers of US equities for a second week, totaling $4.3bn in combined stock and ETF inflows, led by a massive surge into Technology stocks and ETFs. This buying was primarily driven by institutional clients and hedge funds, while private clients and the Health Care sector saw notable outflows.

Key Takeaways

• 1.Clients were net buyers of US equities for the second consecutive week, primarily driven by $3.8 billion in equity ETF inflows.
• 2.Technology stocks saw massive inflows—the largest since mid-March—as the sector tracks for significant 1Q earnings growth.
• 3.Health Care continues to face heavy selling, recording outflows in six of the last seven weeks.

Table of Contents

• Another ETF-driven buying week for US equities
• Clients sell Health Care, buy Tech stocks
• ETFs: accelerating Tech 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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