Even though the U.S. stock market is off to one of the worst starts ever, hedge funds are buying the most equities they have in five years, according to data from one major Wall Street firm.
Bank of America Merrill Lynch’s clients were net buyers of $2.3 billion worth of equities last week, according to its client trading desk data.
“Net buying was chiefly due to hedge funds, who bought stocks for the fourth week in a row. Buying by this group was the largest since September 2010,” BofAML’s Jill Hall wrote in a note to clients Tuesday.
Here are the stocks they were scooping up the most…