Bank of America: Institutional investors buy during US stock market pullbacks

According to Odaily Planet Daily, Bank of America reported that institutional clients were net buyers of U.S. stocks last week, with ETF inflows reaching $4.3 billion, the highest level since December 2022, despite selling $2.6 billion worth of individual stocks during the same period. Institutions were the only net buyers, while hedge funds and retail investors were net sellers. Sector fund flows showed a defensive bias: the technology and communication services sectors saw outflows, while consumer staples and healthcare sectors saw inflows. Bank of America noted that institutional investors have replaced retail investors as the main "pullback buyers" this year, while corporate stock buybacks remain below typical seasonal levels. (Golden Ten)