Individual investors spent February rotating out of the relative safety of dividend-paying value stocks back into growth-fueled technology stocks, said J.J. Kinahan, chief strategist at TD Ameritrade (AMTD). TD Ameritrade’s Investor Movement Index (IMX) fell 1.7% in February to 4.44 compared to a flat performance for the S&P 500. The IMX was negative for the second month in a row. The 52-week high for the IMX is 5.39. The S&P 500 finished roughly flat for the month. Each month, TD Ameritrade pulls a sample from its client base of 6 million funded accounts that includes all accounts that completed a trade in the past month. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly IMX.
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