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Article: United States: Hedge Funds Bets on Financials Rose in Second Quarter.
- Article from:
- TendersInfo
- Article date:
- August 26, 2009
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Byline: babalu03
Hedge funds made an outsize bet on financial stocks in the second quarter, according to a closely watched report on hedge-fund holdings. During the quarter, hedge funds increased their ownership in financial stocks by 55% to $70 billion, compared with the previous quarter. The funds now own 3.7% of the sector's market capitalization, according to a Goldman Sachs research report released Monday. That is an all-time high, the report said.
Among the funds' favorites were the big banks, including Bank of America Corp. and J.P. Morgan Chase & Co. The Goldman "Hedge Fund Trend Monitor" report adds credence to the anecdotal evidence that ...