Technology stocks have been powering this year's stock market rally despite the threat of elevated interest rates staying higher for longer.
For a better illustration of position changes over the course of the quarter, Dick estimated the notional value of the tech buying using "volume-weighted average prices" (VWAP), a common Wall Street yardstick, last quarter.
Meta was the stock that saw the strongest buying from professional investors last quarter, Bank of America said.
Meanwhile, Activision Blizzard also saw elevated buying from big investors betting that the merger with Microsoft would get regulatory approval and close.
Other well-loved tech names that saw increased buying included Uber, Qualcomm , DataDog and Intel .
Persons:
Michael Dick, Dick, Meta, Airbnb
Organizations:
Securities and Exchange Commission, Bank of America, Technology, Media, Telecommunications, Nasdaq, Meta, Activision Blizzard, Microsoft, Uber, Qualcomm, DataDog, Intel
Locations:
Airbnb