LONDON, May 20 (Reuters) – Hedge funds stuck to their holdings in companies with strong fundamentals in April, particularly technology and semiconductor stocks, according to a report on Wednesday from data platform Hazeltree, in a month when the S&P 500 jumped over 10%.
Here are the details about hedge fund positioning in April:
• Among mega-cap stocks, Meta and Amazon.com experienced more than a 5% month-over-month increase in the number of funds holding long positions, Hazeltree said
• Nvidia experienced a 4.5% decline, but remained a favourite long in the semiconductor sector
• The share of companies in the Philadelphia Semiconductor Index in which hedge funds hold net long positions rose to 57% in April from 53% in March
• Crowding in the U.S. semiconductor sector remained most pronounced on the long side in Nvidia, followed by Broadcom and Lam Research
• On the short side, ON Semiconductor was the most crowded name, followed by Microchip Technology and Monolithic Power Systems
(Reporting by Samuel Indyk; additional reporting by Nell Mackenzie; Editing by Amanda Cooper and Barbara Lewis)
