With most of the major indices at or near all-time highs, some investors are using this as an opportunity to take profits from their positions.
That's according to TD Ameritrade's Investor Movement Index, which tracks investing behavior and sentiment among customer portfolios. The IMX declined in September for the first time since March, indicating that investors decreased their exposure to the equity markets.
This "could be the result of equity markets edging higher during the period," according to Victor Jones, TD Ameritrade's Director of Trading.
According to TD Ameritrade, these were the most popular buys among customers during September:
- Apple Inc AAPL
- Alibaba Group Holding Ltd BABA
- Tencent Holdings Ttd TCEHY
- JD.com Inc (ADR) JD
- Home Depot Inc HD
- AT&T Inc. T
- Amazon.com Inc. AMZN
And these were the most popular sells:
- Bristol-Myers Squibb CoBMY
- Pfizer Inc. PFE
- Gilead Sciences, Inc. GILD
- ConocoPhillips COP
- Chevron Corporation CVX
- The following chart shows the IMX performance since it's inception at the end of 2012. You can see how it's generally correlated to the broader equities market.
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