Hedge Funds Bought Tech Stocks For 11 Consecutive Days, Biggest Buying Spree Since 2022

After notable weakness in the tech sector in March and early April, driven by aggressive selling and shorting from the hedge fund universe, the buying is back with a vengeance and according to the latest weekly Goldman Prime Brokerage report (which we will discuss in greater detail in a subsequent post), US Info Tech was by far the most notionally net bought sector on the bank's global Prime book last week (4/19 – 4/25), driven by long buys and short covers (2.3 to 1).

According to the PB desk, HFs have net bought US Tech stocks for 11 consecutive trading sessions and 4 straight weeks...