On a day when US equity markets soared, participant transfer volume was moderate, though still more than 1.5 times the normal levels for the Hewitt index, which tracks the activity of some 1.5 million participants.
The balances moved were just 0.11% of the roughly $71 billion tracked by the index, but it was the first day on which net transfers moved to stocks since August 24, according to Hewitt.
While no doubt attempting to capture some of that uptick, participants transferring to stocks on that day probably bought in at a relative high for the week.
Trading on Friday, September 21 was considered high volume, with three times the normal trading volume, as participants continued to favor stable value investments.
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While notable compared with trading norms established within the index, participant transfer activity has been quite modest over time regardless of market turmoil or economic worries.
The Index tracks the daily transfer activity of nearly 1.5 million US employees with $71 billion in assets