Getting Out Of Dodge: Hedge Funds Are Selling And Shorting Stocks At The Fastest Pace In Two Years

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by Tyler Durden
Monday, Jul 01, 2024 - 11:21 AM

Last week we first reported that with tech stocks soaring to new record highs day after day, Goldman's prime brokerage noted that hedge funds have aggressively net sold tech stocks in the past month, led by Semis & Semi Equip, among which Nvidia (reversing the YTD trend); in fact, as shown below, June's net selling by hedge funds in US TMT is tracking to be the largest on GS PB record.

Fast forward a few days when the "smart money" selling has spilled out of just the tech sector and has spread to virtually all stocks (with tech still leading the dump).