During A Bullish March, These Were The Stocks That Were Net Buys Among Retail Investors

The first quarter of 2017 has gone overwhelmingly to the bulls, according to the TD Ameritrade Holding Corp. AMTD monthly Investor Movement Index (IMX) Report.

The March edition the IMX report, which measures investor movement in and out of equities, showed that for the third month in a row retail investors with TDA were again net buyers of equity. Not only that, like the DJI and the SPX last month, the IMX reached a new all-time high of 6.22, beating out the previous high of 6.15 set in February.

One of the more prominent stocks of March that garnered the most attention from TDA's clients was Snap Inc SNAP, which IPO'd early in the month. According to the report, 48 percent of all TDA accounts traded SNAP on its first day of public trading.

Another event that moved stocks and investors over the month was the Federal Reserve's mid-March announcement that it would raise the federal funds rate target range to 1 percent. Like other financials, Bank of America Corp BAC sold off on the news, which made the discounted stock a net buy for TDA investors.

Other securities that sold of during the month while also garnering interest from TDA investors were Berkshire Hathaway Inc. (NYSE: BRK-B) and Target Corporation TGT, which fell over 12 percent following an underwhelming Q4 earnings report.

Finally, the report showed continued interest in tech stocks, particularly semiconductor companies NVIDIA Corporation NVDA and Advanced Micro Devices, Inc. AMD, which have both continued to perform near all-time highs despite recent cautious analyst sentiment.