Clients with Bank of America ($BAC@US) last week mainly bought single stocks while selling exchange-traded funds. Clients bought a net $1.5 billion of single stocks and purchased about $17 million of ETFs on a net basis. This is the first year since collecting data in 2008 that BofA observed the trend. The shift towards individual stocks indicates a more supportive backdrop for active management. In February, active managers, only 34 percent of large-cap active mutual funds beat their Russell 1000 benchmark, the weakest beat rate since July.