Market Analysis

Tech Stocks See Third-Largest Inflows on Record in First Quarter, Says BofA

Amos Simanungkalit · 05 Apr 2024350 Views

In the first quarter of the year, tech stocks experienced significant inflows of $18.6 billion, marking the third largest quarterly inflow ever recorded, according to Bank of America Global Research.

Additionally, in the past week, tech stocks continued to attract funds, alongside substantial flows into cash and bonds. Bank of America's weekly roundup of market flows, utilizing data from EPFR, revealed that cash equivalent money market funds received inflows of $81.8 billion in the week leading up to Wednesday, the highest in 13 weeks.

The bank attributed this surge in inflows to quarter-end effects. Overall, there were inflows of $14.2 billion into stocks, including $1.1 billion specifically into the tech sector, and $13.4 billion into bonds during the week, as reported by BofA.

Paraphrasing text from "Investing" all rights reserved by the original author.

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