Deals
Hedge Funds Ignore Wall Street Wisdom Buying Up S&P 500 Futures
- Long bets on S&P 500 climbed to the highest since May 2013
- Benchmark gains as merger activity boosts energy, health-care
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Warnings embedded in strategist price targets and historically low U.S. stock volatility are doing nothing to dissuade hedge funds.
They just spent another week adding to long positions in the equity market and building up shorts against the CBOE Volatility Index that were already at a record, according to data from the Commodity Futures Trading Commission. Stocks languished for most of Tuesday before extending gains in the final minutes of trading, as the S&P 500 Index added 0.3 percent to 2,186.48 as of 4 p.m. in New York. The Nasdaq Composite Index advanced 0.5 percent to a fresh record.