Retail Investors Who Bought June Dip Favored Back-to-Work Stocks
- Mom and pop look ahead, betting on economic recovery
- TD Ameritrade clients were buyers of June equity dip
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Main Street investors appear united in their vision for economic recovery, emptying their pockets amid the June selloff in anticipation of a prompt return to normal.
Data from TD Ameritrade showed clients used last month’s volatility to increase their exposure to stocks, lifting the firm’s Investor Movement Index. The biggest jump in holdings came in companies that benefit from an increase in economic activity, like makers of non-essential consumer goods, construction firms, plane builders and banks. Robinhood investors piled into the FAANG-plus-Microsoft group of tech megacaps, adding 330,000 accounts.