Individual Investors Are Still Hungry for Stocks—While Shunning Risk

Individual investors scooped up shares of single stocks and exchange-traded funds at a near-record clip in the first quarter. They appear to have learned some lessons in risk taking as well.

Individuals bought a net $77.7 billion in equities and ETFs on U.S. exchanges in the first three months of the year, according to Vanda Research data, which excludes contributions to 401(k)s and other retirement accounts. That sum trails only the first quarters of 2021 and 2022, when they bought about $80 billion.