(Bloomberg) Among those making heavy bets on technology stocks during the sector’s worst week in nearly eight years were quant funds. As of Wednesday, firms that use technology and formulas to automate the investment process had their highest gross exposure to the sector on record, according to Credit Suisse Group AG prime services data going back to 2013. At 18.4 percent, the measure of firms’ long and short positioning was nearly 2 percentage points higher than for February.
Quants’ Footprint in Tech Hit Record as Selloff Accelerated
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