On April 19, customers of U.S. banks withdrew money from stocks for the third week in a row, even as the U.S. stock market extended its gains for the year.
Bank of America clients pulled $800 million out of stocks last week, with institutional and individual investors outflowing the most, strategists including Jill Carey Hall wrote in a note to clients on Tuesday.
In terms of sectors, investors sold the most in health care and industrials, while technology and materials led the inflows.
The financial sector posted its biggest weekly outflow since mid-February despite solid results from big banks.