OMAHA, Neb. (AP) — TD Ameritrade's clients reduced their stock holdings overall as they cashed in some profits as the market rallied in March.
The online brokerage says its Investor Movement Index declined to 4.33 in March from February's 4.44. The six-point index based on what investors are buying and selling is at its lowest point since July 2012.
TD Ameritrade's Chief Market Strategist J.J. Kinahan says investors appeared to be taking profits on some stocks that gained value in the month and reinvesting in other companies.
Investors sold several stocks after their prices improved on news, such as Target, Ali Baba, U.S. Steel and JC Penney.
Some of the most popular stocks investors bought were Chesapeake Energy Corp., Kinder Morgan Inc., Walt Disney and Facebook.