Data: hedge funds sell a global technology unit in three days, up from 2016

On 31 July, the Kobeissi Letter sent on platform X indicated that, within three days of 28 July, hedge funds had sold global information technology (IT)-type equities at their highest scale since 2016. At the same time, hedge funds recorded a 3-day drop in total stock exposures since November 2022, and sold the pressure to spread to all the plates. The silo was largely driven by the fallout of macro-products such as index futures and ETF. In addition, a single stock recorded its size on the fifth and third largest day of the past five years. By region, North America accounts for the majority of sales, followed by Europe. Hedge funds are significantly reducing equity exposure。