LONDON (Reuters) – Deep-pocketed investors injected a record $ 4.2 billion into big tech stocks last week, BofA flow data showed on Friday, capitalizing on the slight pullback on Wall Street while retail traders were busy. buying stocks like GameStop (NYSE :). An army of retail investors went head-to-head with Wall Street professionals last month buying stocks that were heavily shorted by hedge funds. In the fight, some funds had to sell their long positions to cover losses, causing broader drops in share prices. “The zeitgeist of a large customer in the last 2 weeks has been unambiguously to buy FAANMG (Facebook (NASDAQ :), Amazon (NASDAQ :), Apple (NASDAQ :), Netflix (NASDAQ :), Microsoft (NASDAQ 🙂 and the owner of Google Alphabet (NASDAQ :)) underperforming, “said Michael Hartnett, chief investment strategist at BofA. The retail rush also sent silver above $ 30 an ounce for the first time since 2013 before prices fell back. The precious metal attracted a record $ 2.8 billion in the week through Wednesday, BofA said.
Disclaimer: Fusion Media wishes to remind you that the data contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data. Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.