Stock Funds See Biggest Inflows Ever as BofA Warns Top Is Near
- U.S. large-cap and tech shares lead inflows into stocks: BofA
- BofA Bull & Bear indicator is approaching sell signal level
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Investors poured a record amount of money into equity funds, especially technology stocks, prompting strategists at Bank of America Corp. to warn that the exuberance may precede a correction.
Stock funds had inflows of $58 billion in the week through Feb. 10, led by investments into U.S. equities and the tech sector, according to BofA and EPFR Global data. Market players pulled almost $11 billion from cash funds and about $800 million from gold, while bonds got a $13 billion inflow, according to the Feb. 11 note.