S&P Global Market Intelligence reported in January 2025 that institutional investors were net sellers of $50.20 billion of equities in December 2024, the largest monthly net sale of the year and about 50% more than in November.
For full-year 2024, institutional investors sold a net $283.50 billion of equities, with average net monthly selling of about $29.58 billion over the prior 12 months.
By contrast, index funds and ETFs were net buyers of $25.89 billion in December, down from $43.21 billion in November but close to their 12-month average of $24.44 billion. Retail investors remained net sellers in December, with net sales of $7.84 billion, compared with $11.89 billion in November and a 2024 monthly average net sale of $14.58 billion.
Hedge funds were net buyers of $20.44 billion in December after net selling of $30.83 billion in November, leaving their average positioning through 2024 roughly flat. The December figures extended a broader 2024 pattern in which discretionary institutional cash-equity investors were net sellers while passive investment vehicles continued to absorb net inflows.