Investing.com -- Bank of America reported that clients were net buyers of US equities for the sixth consecutive week, with hedge fund clients driving the largest buying week in the firm's data history since 2008.

The buying activity occurred during a week when the S&P 500 rose 3.6%, marking its best weekly performance since April. Equity exchange-traded funds attracted $4.1 billion in inflows during their seventh straight week of gains, while single stocks saw $2.4 billion in outflows for a second week.

Hedge fund clients led the purchases with their ninth largest buying week on a 99th percentile basis when adjusted for S&P 500 market capitalization. This followed a near-record buying week in the prior period. Institutional and retail clients sold equities for the second straight week.

Clients sold single stocks across all size segments except small caps. When including ETFs, clients were net buyers of large-cap stocks.

Corporate client buybacks increased last week but remained below the historical average for the fourth week of earnings season when normalized by market cap. Year-to-date annualized buybacks by clients are slightly below full-year 2025 levels and below 2024 records, but above levels seen from 2016 to 2023.

Clients sold stocks in seven of 11 sectors, with Industrials leading outflows for the second consecutive week. Communication Services stocks posted their largest outflows since December.

Technology saw its second largest inflow week on record, representing the 97th percentile when normalized by S&P 500 Technology market cap. Consumer sectors attracted inflows for the sixth straight week for Discretionary and third straight week for Staples.

In ETF flows, clients purchased Value and Blend ETFs while selling Growth ETFs for the first time in five weeks. Clients bought ETFs across all size segments including large, mid, small, and broad market categories.

Clients sold ETFs in six of 11 sectors, led by Technology ETFs. Industrials ETFs attracted the largest inflows.