Hedge funds are rushing to reduce tech exposure: Hedge funds just posted their largest 2-week reduction in US information technology exposure over the last decade, excluding the meme stock frenzy in early 2021. This was driven by long sales outpacing short covers at a ratio of 1.5 to 1. Nearly every subsector saw exposure cuts, led by Semiconductors and Semi Equipment via long sales. Furthermore, hedge funds sold Magnificent 7 stocks in 4 of the last 5 trading sessions. Hedge funds are cashing-in massive profits in tech.

Hedge funds are rushing to reduce tech exposure:

Hedge funds just posted their largest 2-week reduction in US information technology exposure over the last decade, excluding the meme stock frenzy in early 2021.

This was driven by long sales outpacing short covers at a ratio of 1.5 to 1.

Nearly every subsector saw exposure cuts, led by Semiconductors and Semi Equipment via long sales.

Furthermore, hedge funds sold Magnificent 7 stocks in 4 of the last 5 trading sessions.

Hedge funds are cashing-in massive profits in tech.