Reported about 2 months ago
Hedge funds have shifted their strategies by increasing investments in major technology companies like Apple Inc. while reducing stakes in Nvidia Corp. in the second quarter amidst the ongoing AI boom. Notably, Apple experienced significant growth, with hedge funds acquiring over 8.5 million shares as its stock rose nearly 25%. In contrast, many funds trimmed their positions in Nvidia, reflecting a strategic pullback after recent gains. The S&P 500 Index rose by 3.9% during the quarter, bolstered by strong corporate earnings, even as broader market conditions shifted in July.
Source: YAHOO