Looking for a list of the most common stocks sold by retail investors? Well, TD Ameritrade Holding Corp, (NASDAQ: AMTD) recently ranked as the top retail broker, releases on a monthly basis a few interesting tidbits that gauge the trading activity of its clients.
In its monthly Investor Movement Index report, the brokerage noted its clients were net sellers of Apple Inc. (NASDAQ: AAPL) throughout February as the stock traded above all-time highs and topped the $700 billion valuation mark.
TD Ameritrade clients were also net sellers of another current Dow component, Walt Disney Co (NYSE: DIS), as well as former Dow component Alcoa Corp (NYSE: AA) and its spinoff Arconic Inc (NYSE: ARNC). All three stocks missed earnings expectations in the quarter. While the later two traded down in January as a result, Disney actually rallied to levels it hasn't been at since December 2015.
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Other stocks that were net sold include ConocoPhillips (NYSE: COP) and Kinder Morgan Inc (NYSE: KMI). Tesla Inc (NASDAQ: TSLA) was also sold by clients after the electric vehicle maker saw its stock hit a new all-time high in the middle of the month.
The IMX measures investor movement in and out of equities. The brokerage notes taht it "has generally correlated with the S&P 500 as clients react to equity price movements, but the index has gone through uncorrelated periods."
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