Hedge Funds Make Largest Weekly US Equity Purchase in 18 Years

Hedge funds added $6.8 billion to US equity positions last week, marking the largest weekly purchase in 18 years. Relative to the S&P 500's market capitalization, it ranked as the ninth-largest weekly buy since 2008.

The inflow follows $4.8 billion in the prior week, taking the two-week total to $11.6 billion — the largest two-week purchase on record. The four-week average for hedge fund buying rose to $1.8 billion.

Flows elsewhere were negative. Institutional investors sold $1.1 billion, their second straight weekly sale, while retail investors offloaded $4.1 billion. Retail selling over the past four weeks averaged $500 million.