Apex Report Finds SpaceX Was Retail Investors’ Top Q3 Buy
Apex says clients bought $575.2 million of SpaceX shares while selling several large technology names and adding to Treasuries and bitcoin exposure.
Key takeaways
- SpaceX was Apex clients’ largest net buy in Q3, at $575.2 million.
- Five of the six largest net sells were mega-cap technology names.
- Clients added $376.8 million to short-duration Treasuries and $543.2 million to BITO.
Apex Fintech Solutions says SpaceX was its clients’ largest net buy in the third quarter, with $575.2 million in net purchases. The company’s Q3 Investor Pulse report also found clients sold several large technology stocks and added exposure to Treasuries, bitcoin and semiconductors.
Five of the six largest net sells were mega-cap technology names: Microsoft, Nvidia, Palantir, Apple and Meta. The S&P 500 ETF, SPY, was the sixth-largest net sell, according to the report.
Clients added $376.8 million to the short-duration Treasury ETF SGOV and $543.2 million to the bitcoin futures ETF BITO. Apex said BITO was the quarter’s second-largest net buy. It also reported that the 10-year Treasury yield was near 5.28% during the period.
The report described mixed trading in semiconductors. Clients sold Nvidia, AMD and Micron, while adding Taiwan Semiconductor, Intel, SK Hynix, SanDisk and Broadcom.
SpaceX became a top-12 holding by market value in every generation tracked in the report, reaching tenth among Boomers. Apex CEO Bill Capuzzi said demand for SpaceX had not faded as the mega-cap trade weakened, but had moved to other investments.
This article was produced with the help of AI technology. Source: Yahoo Finance
