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Hedge Fund Stock Pickers Return in Force Amid Chaos-Laced Markets

  • They turn to individual firms, with buying at one-year high
  • Short sales rise against ETFs in sign of lingering caution
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The upending of markets by shifting central bank policy, war and the pandemic is convincing professional investors the time is ripe to put their often-maligned stock-picking skills to work.

Hedge funds that make both bullish and bearish equity bets became big buyers of shares in individual companies in February for the first time in four months, prime broker data compiled by Goldman Sachs Group Inc. show. The amount of net purchases in single stocks reached the highest level in the past year.