Hedge funds trim holdings in 'Magnificent 7' stocks in Q2 - report
Preliminary data for the second quarter of 2024 indicated that hedge funds have slightly reduced their holdings in a group of stocks known as the"Magnificent 7," following three consecutive quarters of significant increases.
Brokerages, on the other hand, have maintained their investment levels in the"Magnificent 7" stocks during the same period, with their share of ownership also substantially above pre-pandemic figures. In contrast to hedge funds, active real-money managers, particularly those overseeing the 100 largest active U.S. equity mutual funds, have maintained or increased their overweight positions in certain tech stocks, opting not to take profits.Macro managers, who typically use liquid index products such as U.S. equity index futures and SPY and QQQ ETFs, have increased their exposure to U.S. equities rather than reducing it. This is demonstrated by a higher level of U.S.
Retail investors appear to have purchased stocks during the 5-6% market dip in April, which may have been partly triggered by the profit-taking actions of equity-focused hedge funds.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meta's earnings report comes as 'Magnificent Seven' stock looks to return to all-time highAfter its most recent report, shares of the Facebook parent shot up 20%.
Read more »
Trim Alphabet, buy Microsoft: How major hedge funds invested in tech during the first quarterHedge funds took a diversified approach to technology investing in the first quarter as the sector built on its rally from 2024.
Read more »
Hedge funds are getting selective with megacap tech, falling out of love with Tesla and AppleHedge funds dialed back their exposure to Tesla, Alphabet and Apple last quarter, while Microsoft remained the most popular stock.
Read more »
Hedge funds cut exposure to the mega-cap tech stocks: GoldmanHedge funds cut exposure to the mega-cap tech stocks: Goldman
Read more »
Doctors vs. hospitals: A bid to regulate hedge funds is dividing California medical groupsA plan to regulate private equity in California health care is dividing the industry with hospitals on one side and doctors and nurses on the other.
Read more »
Hedge funds are ‘dead as a doornail,’ says chairman of ultra-rich investors' club Tiger 21Hedge funds are 'dead' as an investment asset class among members of Tiger 21, a network of ultra-high net worth investors, said founder Michael Sonnenfeldt.
Read more »