US stock markets slipped back on profit-taking on Wednesday, and participants in the Hewitt Index favored fixed income, on a net basis. Then on Thursday’s market rebound, participants were drawn to equities on a net basis, as they were on Friday. Participant trading levels for all three days were within normal trading ranges but only a bit more than half the usual level.
As a percentage of total balances, just 0.5% of the $71 billion tracked by the index moved on September 26, while just 0.4% moved on each of the last two trading days of the quarter.
The Hewitt Index tracks the investment activity of 1.5 million participants in 401(k) plans.