Having bought discounted bank equities in March during the market turmoil triggered by the collapse of Silicon Valley Bank and Signature Bank, hedge funds reduced their exposure to financial stocks in April, according to a report by Reuters.
Having bought discounted bank equities in March during the market turmoil triggered by the collapse of Silicon Valley Bank and Signature Bank, hedge funds reduced their exposure to financial stocks in April, according to a report by Reuters.
The report cites data from S&P Global Market Intelligence as revealing that hedge funds reduced exposure to financial stocks including banks and trading companies by 1%, or $1.3 billion, after an increase of 5.5% in March.
According to executive director of issuer solutions at S&P Global Market Intelligence, Christopher Blake, though, overall hedge fund positions on stocks remain bullish.
A separate client note from Morgan Stanley meanwhile, has highlighted European financial companies as a particular focus for short-sellers in April.
