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The Most Popular Hedge Fund Stocks Are Getting Hit the Hardest

(Bloomberg) The smart money has been one of the biggest victims in the declines sweeping through equity markets. While the S&P 500 Index fell 1 percent last week, stocks with the highest hedge fund or exchanged-traded fund ownership posted losses that were four times larger, a study from UBS Group AG showed. Broadly, equity returns have been inversely tied to their popularity with funds. That is, the more loved by hedge funds or ETFs, the bigger the drop.

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