After Months Of Net Selling, Retail Investors Jumped Back Into Apple In May
TD Ameritrade’s latest Investor Movement Index (IMX) is out, and it suggests investors were bullish in May.
This is how it works: when the IMX score surges, it means investors' recent past activity has leaned toward a bullish stance; then, when the score declines, investors' recent past activity has tended towards bearishness.
TD Ameritrade’s Managing Director of Trading, Nicole Sherrod, shared a look into what the firm’s clients did in May. Interestingly, Apple Inc. (NASDAQ: AAPL) went back into green territory after several months in red.
Apple had been a net sell among TD Ameritrade’s clients for several months this year. The stock escalated during February, March and early April, however, late April and early May witnessed a large tumble. The tumble resulted after the company reported unfavorable earnings and declining iPhone sales – for the first time since the flagship product was launched. The weakness made Apple a net buy among clients in May, Sherrod said in a video.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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