6 Jun 2023
Net purchases of US stocks by retail investors hit almost $1.5bn on May 30 and 31, the highest daily figures in three months, data from VandaTrack shows.
After weeks on the sidelines, individual investors were “starting to chase the tech rally”, said Marco Iachini, VandaTrack’s vice-president. “Fear of missing out looks to be kicking in.”
However, VandaTrack said retail purchases of money market ETFs had declined in recent weeks as “mom and pop investors” had begun shifting into riskier assets, lured by the Nasdaq Composite’s 27 per cent gain so far this year.