How do retail inves­tors respond to the out­break of COVID-19? We use tran­sac­tion-level tra­ding data to show that inves­tors signi­fi­cant­ly incre­a­se their tra­ding acti­vi­ties as the COVID-19 pan­de­mic unfolds, both at the exten­si­ve and at the inten­si­ve mar­gin. The average wee­kly tra­ding inten­si­ty incre­a­ses by 13.9% as the num­ber of COVID-19 cases dou­bles. The incre­a­se in tra­ding is espe­cial­ly pro­noun­ced for male and older inves­tors, and affects stock and index tra­ding. Fol­lowing the 9.99%-drop of the Dow Jones Indus­tri­al Average on March 12, inves­tors signi­fi­cant­ly redu­ce the usa­ge of leverage across all asset classes.

Quel­le /​ Link: Covid-19 and Inves­tor Behavior

Wei­te­re Informationen:

COVID-19 und Han­dels­ak­ti­vi­tä­ten von Pri­vat­in­ves­to­ren. Stu­die der Uni­ver­si­tät Pader­born attes­tiert Anstieg 

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