The capital changes in American technology stocks have produced another set of more extreme data.
Just last weekend, I mentioned that the technology sector funds went from a net inflow of over 20 billion dollars to a net outflow of 15 billion dollars just a week later. Now, data from Goldman Sachs' Prime Book also shows that as of the week of June 25, the net trading flow of the American information technology sector has approached -4 standard deviations.
Prime Book primarily reflects the trading behavior of Goldman Sachs' prime brokerage clients, many of whom are hedge funds and institutional trading accounts. Positive values represent net buying, while negative values represent net selling. Approaching -4 standard deviations indicates that this week, the American information technology sector has experienced very extreme net selling.
So, combining the two data points from this week, on one hand, technology sector funds have shifted from significant inflows to significant outflows. On the other hand, Goldman Sachs Prime Book clients are showing near-historically extreme net selling in the information technology sector. Therefore, the core of the recent volatility in technology stocks is that capital is beginning to flow out from high-positioned sectors.
More critically, the scale of this sell-off has already set a record since data has been available in 2016, even exceeding the week in August 2024 when the Nasdaq 100 dropped over 10%. The proportion of the seven major US stocks in the total exposure of American hedge funds has dropped to 14.5%, nearing a three-year low.
To put it plainly, hedge funds and institutions sold American technology stocks amidst the clamor, and we do not know if they are still selling, but the earnings report season in July may be even more significant.
#Bitget is here for VIPs! Crypto, US stocks, CFDs, global opportunities all in one place
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
