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Tech Sector Is Seeing Its Biggest Annual Inflows in 15 Years, BofA Says

  • Sector has led the rally in the broader indexes this year
  • Tech names have accounted for 40 percent of S&P 500’s gain
Bloomberg business news

Why Tech Stocks Are the Story of the Market This Month

This year has been a big one for the technology sector, and now we’re getting data on just how quickly investors are piling into this already crowded area of the equity market.

Investors ranging from institutional accounts to retail clients plowed about $1 billion into tech stocks during the past week, pushing inflows to the highest annualized pace in 15 years, according to a Bank of America Merrill Lynch report. Overall, equities saw $8.9 billion in outflows during the period, the bank said.