July 7, 2024
Funds

Hedge funds dump tech stocks at fastest pace since 2016, bank shows

By Carolina Mandl NEW YORK (Reuters) – Global hedge funds in June sold U.S. shares of technology, media and telecommunications (TMT) companies at the fastest pace since 2016, mainly driven by semiconductor stocks, Goldman Sachs said in note. The sales could indicate that portfolio managers have become more bearish on tech stocks, after the sector’s

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