The health care sector (NYSEARCA:XLV) witnessed the highest net buying in nearly five months, as reported by Goldman Sachs’ Prime Services Weekly Report, released on Friday.

In the past five weeks, the sector has experienced net buying in four weeks, marking a substantial shift in investor sentiment. According to Goldman Prime Brokerage analysts, it currently holds the highest overweight position in comparison to the S&P 500 (SP500), standing at over 8.7% – the most overweight level in more than five years.

Driving this surge in net buying were the risk-on flows and long-term purchases that outnumbered short sales by a ratio of 3.8 to 1.

Furthermore, there was an influx of net buying in various sub-sectors such as biotech (IBB) with an emphasis on long purchases, healthcare equipment and supplies (SP500-351010) involving both long and short positions, and life sciences tools and services (SP500-352030) with a focus on long buys. This contrasted with the selling in pharmaceuticals (XPH) and short sales of healthcare providers and services (SP500-351020).

For the week of January 5 through 11, the healthcare sector (XLV) secured the top position as the most net bought sector for the second consecutive week and now constitutes 21.9% of the overall U.S. single stock net exposure, the highest level in over five years, according to analysts.