Hedge funds purchased $4.8 billion worth of US stocks last week, marking the second-largest weekly net purchase since 2008. This buying spree, tracked through Goldman Sachs’ prime brokerage data, pushed hedge fund net purchases to a six-month high. Financial sector stocks are the primary beneficiary of this rotation, as hedge funds simultaneously pull back from technology and AI-related names. Goldman’s analysis reveals significant cutbacks in tech and AI exposure. Goldman’s data shows zero mention of cryptocurrency activity, suggesting that institutional rotation into crypto faces a headwind.
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