Bank of America clients have been buying US stocks for four consecutive weeks, with institutional investors seeing the largest weekly net inflow since December 2020.

BlockBeats News, July 29th, according to Bloomberg data, Bank of America customers continued to actively buy US stocks last week, extending their streak of consecutive purchases to four weeks.

Institutional investors led this trend, recording the largest weekly net inflow since December 2020, as well as the second-highest level on record for BofA since 2008. Retail investors also continued to buy, while hedge funds saw a third consecutive week of net selling.

The technology, financial, and industrial sectors attracted the strongest inflows, with the industrial sector seeing record demand after months of outflows. Communication services, energy, and materials sectors were the weakest performers.