Reuters reports that BofA research showed that equity funds sucked in more than $26 billion in the week to Sept. 16, as investors chased U.S. stocks after a sharp selloff earlier in the month led by technology stocks.

In a "frenzy into U.S. stocks", investors pumped nearly $24 billion into equities in the world's top economy, the largest such inflows since March 2018, said BofA.

In a recent fund manager survey by BofA, it found that a "tech bubble" is now the second biggest tail risk after a COVID-19 "second wave" as long U.S. tech remained "the most crowded trade" for the fifth straight month. Still, the rally rumbles on with the Nasdaq 100 up 27% year-to-date.

A whopping $58.9 billion left cash funds and gold saw its first outflow in four months of $400 million.

Meanwhile, emerging market equity funds saw $2.5 billion outflows but developing debt funds enjoyed an eleventh straight week of inflows.