Hedge Funds Turned Stock Buyers in Volatile Week, Goldman Says
- Funds are bullish after three prior weeks of selling
- Goldman says economy to support risk assets despite turmoil
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Hedge funds are getting back to buying global equities, shrugging off broader market volatility to gobble up tech stocks at the fastest pace in two months, according to Goldman Sachs Group Inc.’s trading desk.
New long positions outpaced short sales last week while single stocks saw “the largest notional buying in over a year,” the traders wrote in a note, marking a bullish turn in sentiment after hedge funds had been selling for the prior three weeks.