(Bloomberg) Trades that kept the ceiling from crashing in last year are giving way now, as momentum stocks and others beloved by hedge fund managers lead a plunge that is pushing the Standard & Poor’s 500 Index toward its August low. With U.S. equities sinking the most since September on Wednesday, the 20 stocks in the S&P 500with the most hedge fund ownership declined even more — an average of 4.4 percent, data compiled by Bloomberg show. Among the 10 most-owned shares, losses averaged 5.6 percent.
Momentum Darlings Hit Wall in S&P 500 as Hedge Fund Stocks Slide
This entry was posted in Syndicated. Bookmark the permalink.
