Hedge Funds Rush Back Into Tech Stocks in Largest Weekly Buying Since 2022
Hedge funds recorded their biggest weekly purchase of US technology stocks since December 2022, driven by long additions and concentrated in software, semiconductors, and hardware.
QQQ
In the week ending Thursday, hedge funds logged the largest net purchase of US technology shares since December 2022, marking the third-largest weekly inflow in at least five years.
The move was primarily fueled by new long positions, though short covering also contributed. Demand was strongest in software, semiconductor, and semiconductor equipment names, followed by tech hardware stocks.
Additionally, hedge funds bought Magnificent 7 stocks for four consecutive days through Thursday.
Source: The Kobeissi Letter