Odaily Planet Daily reports: The Kobeissi Letter posted on X that, over the three days ending July 28, hedge funds sold global information technology stocks at the highest level since data collection began in 2016. At the same time, hedge funds recorded the largest three-day reduction in overall equity exposure since November 2022, with selling pressure spreading across all sectors. This unwinding was primarily driven by short covering in macro products such as index futures and ETFs. Additionally, individual stocks experienced the fifth-largest three-day selling volume in the past five years. By region, North America accounted for the majority of selling, followed by Europe. Hedge funds are significantly reducing their equity exposure.
Hedge Funds Sell Tech Stocks at the Highest Rate Since 2016
KuCoinFlashShare
Summary
Hedge funds sold tech stocks at the fastest pace since 2016 over the three days ending July 28, according to The Kobeissi Letter. The sell-off represented the largest reduction in exposure since November 2022, with pressure felt across all sectors. Short-covering in macro products such as index futures and ETFs drove the unwinding. One stock experienced the fifth-largest three-day sell-off in five years. North America led the selling, followed by Europe. Traders are now evaluating day trading crypto strategies amid shifting market conditions, while value investing in crypto remains a key focus for long-term positioning.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.