Reported 4 months ago
Global hedge funds sold off equities last week, facing a challenging period as U.S. main indexes dropped, impacting their long bets, according to Morgan Stanley. The bank observed the pain concentrated on the funds' long positions, with the S&P 500 falling 0.48% and tech companies like Dell Technologies disappointing. Hedge funds also increased short trades in Europe and Asia. Despite Americas-based long/short funds declining 0.9% for the week versus the S&P's 1.3% drop, they only captured 35% of the index's gains in May, as per Morgan Stanley's report.
Source: YAHOO