- Goldman says financials saw largest net selling in two months
- Sector exposure is being monetized, cut: Nomura’s McElligott
Hedge funds ramped up their selling of financial stocks as US economic growth shows signs of weakness and the sector approaches a key technical level.
Despite financials notching their best weekly gain of 2024, hedge fund managers net sold for the third straight week — the largest bout of net selling in two months — data compiled by Goldman Sachs Group Inc.’s prime brokerage desk for the week ended May 10 show. The funds have sold the sector short in 14 of the last 16 weeks. Capital markets, financial services, and insurance were some of the worst hit subsectors with every area, excluding mortgage REITs, net sold over the period.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.