OMAHA, Neb. (AP) — Online brokerage TD Ameritrade says its investors remained bullish about the stock market in May.
TD Ameritrade said Monday that its Investor Movement Index inched slightly higher to 5.69 in May from April's 5.67.
The six-point index is based on what TD Ameritrade Holding Corp.'s 6 million clients were buying and selling. Inactive accounts are excluded.
TD Ameritrade's Nicole Sherrod May's rating shows investors remain confident in the stock market.
TD Ameritrade clients were net sellers of Apple, Coca-Cola, Cisco and JC Penney. Sherrod says it appears investors were rotating out of stocks that had made significant gains into stocks that were down.
Investors who use the Omaha-based brokerage were net buyers of Twitter, Yahoo, Whole Foods and Amazon stocks. Bank of America and Prospect Capital were also popular.