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Corporate America Is Buying Back Its Own Stock at a Furious Pace, BofA Says

  • Corporate America emerged as a major buying force amid selloff
  • Repurchases have helped stem losses during past market turmoil
   

Source: Getty Images

As U.S. stocks suffered one of this year’s worst declines last week, one big ally of this bull market stepped up its buying at a furious pace. 

Corporate America bought back $3.4 billion worth of its own stock, twice the level from the previous week and reaching the highest measure since March, according to client activity compiled by Bank of America Corp.’s research team. While wealthy individuals and institutional investors also bought the dip, buybacks from companies accounted for almost half the total purchases by the bank’s clients.