Bank of America's hedge fund clients continue to buy large amounts of US stocks, with the weekly volume hitting the highest level since 2008.

August 12th, U.S. Bank's hedge fund clients bought U.S. stocks close to a record amount in the week after, and the investment level reached the highest since 2008.

The bank's strategist led by Jill Carey Hall wrote in a research report, as of the week ending August 7th, clients net bought U.S. stocks for the sixth consecutive week, injecting $4.1 billion into ETFs and withdrawing $2.4 billion from individual stocks. During the same period, both institutional and retail clients were net sellers, while corporate clients accelerated their buybacks. Clients sold off 7 of the 11 sectors, with the largest outflows seen in the industrial sector, while the technology sector saw the second-largest inflow week on record. (Bloomberg)