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Hedge funds are aggressively selling tech stocks, particularly semiconductor and semiconductor equipment names, with June's net selling in the US tech sector set to be the largest on record. This trend is driven by concerns over potential drawdowns in crowded positions.
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Bloomberg: Hedge funds are “aggressively” cutting back on tech, according to Goldman. This month’s net selling in the US tech sector is tracking to be the largest in the bank’s records. Futures slipped as Micron’s sell-off sent a fresh reminder about the risk of bullish AI bets.
This month’s net selling in the US tech sector is on track to be the largest on record going back in data since 2017, according to Goldman’s prime brokerage data. Semiconductor and semiconductor equipment stocks were the ones offloaded the most by hedge funds, followed by… https://t.co/HhUOkx2OYL
