According to CoinMeta, as reported by The Kobeissi Letter, hedge funds made a net purchase of $4.8 billion in U.S. stocks last week, marking the second-largest single-week purchase since 2008 and ranking 24th in history in terms of the proportion of the S&P 500's total market value. During the same period, institutional investors sold a net $3.8 billion, ending a streak of four consecutive weeks of net purchases, with the average net purchase volume over the past four weeks dropping to $3.9 billion. Retail investors sold a net $200 million during this time, and the average net purchase volume over the past four weeks also fell to $600 million.