TD Ameritrade Says Clients' Sentiment Improved In September

Investor sentiment improved during September even as the S&P 500 retreated from a record high, according to an aggregate of account holdings at TD Ameritrade. Inc.

The company's Investor Movement Index, which tracks investor positions and activity, reached its third-highest level since the measure began four years ago.

Clients of the online broker, a unit of TD Ameritrade Holding Corp., were net buyers overall in September.

Apple Inc. AAPL and Yahoo! Inc. YHOO were popular buys: Apple released its much-anticipated iPhone 6, while Yahoo was popular for its investment in Alibaba Group Holding Ltd.

Clients were net sellers of Facebook Inc FB, Intel Corporation INTC, and Amazon.com, Inc. AMZN as well as the financial sector's Citigroup Inc C and Bank of America Corp BAC.

The equity markets saw volatility during the month, with the NASDAQ Composite starting September at its highest level ever, only to close the month 2 percent lower.

The S&P 500 and the Dow Jones Industrial Average both reached new highs during the third week of the month but later retreated, with the Dow finishing the month near where it started and the S&P 500, finishing 1 percent lower.

Small caps stocks measured by the Russell 2000 had an even larger decline of 5 percent.

Posted In: Analyst ColorNewsEventsEcon #s
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