Index Shows Investors Were Selling Target, Alibaba and J.C. Penney in March

Retail investors were net sellers in the month of March - especially in retail stocks like Target (TGT) - Get Report , J.C. Penney (JCP) - Get Report and Alibaba (BABA) - Get Report - even as the S&P 500 pushed ahead, said J.J. Kinahan, chief strategist at TD Ameritrade. TD Ameritrade's Investor Movement Index (IMX) fell 2.5% in March to a 52-week low of 4.33 despite the S&P 500 rising 4.5% for the month. The IMX was negative for the third month in a row. The 52-week high for the IMX is 5.39. Each month, TD Ameritrade pulls a sample from its client base of 6 million funded accounts that includes all accounts that completed a trade in the past month. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly IMX.