(Bloomberg) -- Think the rally in U.S. stocks might be about to end? Corporate insiders apparently do.

Executives sold more than $10 billion worth of their stock holdings in August. That’s the most since November, according to data from TrimTabs Research.

“One cautionary sign for U.S. stocks is that corporate insiders have accelerated their selling of U.S. equities,” said Winston Chua, an analyst at TrimTabs. “They’ve dedicated record amounts of shareholder money to buybacks but aren’t doing the same with their own which suggests that companies aren’t buying stocks because they’re cheap.”

To contact the reporter on this story: Brandon Kochkodin in New York at bkochkodin@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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