{"id":13533,"date":"2023-12-01T17:35:49","date_gmt":"2023-12-01T17:35:49","guid":{"rendered":"https:\/\/infundpros.com\/markets\/novembers-stock-market-rally-gets-a-boost-from-trend-following-funds-and-company-share-buybacks\/"},"modified":"2023-12-01T17:35:50","modified_gmt":"2023-12-01T17:35:50","slug":"novembers-stock-market-rally-gets-a-boost-from-trend-following-funds-and-company-share-buybacks","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=13533","title":{"rendered":"November\u2019s stock-market rally gets a boost from trend-following funds and company share buybacks"},"content":{"rendered":"
\n

The U.S. stock-market rally this month has gotten a big boost from corporations buying back their shares, and computerized trend-following funds adding to their bullish bets, according to data from Bank of America and UBS Group. <\/p>\n

According to the latest report on client fund flows from Bank of America, corporate buybacks last week were the second-highest on record dating back to 2010 as a percentage of the S&P 500\u2019s total market capitalization. Last week also marked the second week in a row that the pace of share buybacks was substantially faster than the long-term seasonal trend. <\/p>\n

\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Meanwhile, a team at UBS Group told clients that commodity-trading advisers, or CTAs, as they\u2019re more widely known on Wall Street, finally jumped back into stocks after sitting on the sidelines for a few weeks.<\/p>\n

\u201cCTAs have finally decided to join the party. After sitting on the sideline late October and early November, they bought equities in size in the last 2 weeks,\u201d the UBS team said. <\/p>\n

UBS estimates that these funds culled 80% of their short positions over the past two weeks, which translates to between $60 billion and $70 billion in equity buying. <\/p>\n

The team expects the buying to continue over the next two weeks, with trend-following funds expected to deploy another $30 billion to $40 billion in exposure, even as the rally in U.S. stocks appeared to stall on Tuesday as the S&P 500
\n SPX
\n and Nasdaq Composite
\n COMP
\n snapped five-day winning streaks. <\/p>\n

At this pace, CTAs are expected to once again become \u201cnet long\u201d equities by the end of this week. <\/p>\n

<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

CTA positioning is sending a strong bullish signal for U.S. stocks, potentially providing another boost to the S&P 500 index heading into the final month of 2023. The large-cap index is up 18.2% to date in 2023 through Tuesday\u2019s close, according to FactSet data. <\/p>\n

Since the start of November, it has risen 8.2% to finish Tuesday at 4,538, leaving it within 1% of its 2023 closing high. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. stock-market rally this month has gotten a big boost from corporations buying back their shares, and computerized trend-following funds adding…<\/p>\n","protected":false},"author":1,"featured_media":13534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-13533","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\nNovember\u2019s stock-market rally gets a boost from trend-following funds and company share buybacks | inFundPros<\/title>\n<meta name=\"description\" content=\"The U.S. stock-market rally this month has gotten a big boost from corporations buying back their shares, and computerized trend-following funds adding to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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