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The financial sector (NYSERCA:XLF) recorded the largest weekly net buying inflows since August 2021, according to an equity client flow trends report from BofA Securities.
Clients bought stocks in six of the 11 sectors, with technology (XLK), media and telecommunications (XLC).) also in the lead, during the week of March 11 to 17.
The financial sector (XLF) recorded inflows of $1.06 billion last week.
Additionally, Communications Services (XLC) continues to have the longest buying streak of any sector, gaining over the past 20 weeks, with $788 million in inflows.
technology (XLK) had its third week of inflows after outflows for the most weeks so far this year. Last week's receipts were $707 million.
Other entries included: consumer discretionary (XLY) with $641 million; basic consumer goods (XLP) with 429 million dollars; and utilities (XLU) with $165 billion in revenue.
The industrial sector saw the highest sales during its second week of outflows at -$453 million, followed by Materials (XLB) at -$298 million, healthcare (XLV) at -$229 million, real estate (XLRE) with -116 million dollars and energy (XLE) with -$84M.
Healthcare (XLV) has the longest recent selling streak of any sector, with outflows over the past five weeks, after steady inflows since the beginning of the year, analysts said.
Learn more about the Financial Select Sector SPDR ETF:
