(FINalternatives) A raft of big-name hedge fund managers trimmed their exposures to companies in the financial sector in the first quarter as the Trump Trade, anchored on high hopes for the rapid implementation of tax and other regulatory reforms, faded.Adage Capital Management slashed 3.9 million shares from its Wells Fargo position, according to a Reuters article citing regulatory filings, while John Burbank’s Passport Capital sold 947,000 shares of the bank.
Large Hedge Funds Reduced Exposure to Financials in Q1 as Trump Trade Fizzled
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