Institutional investors are aggressively unloading US equities: Hedge funds sold US single stocks at the fastest rate since October on Wednesday, posting their 2nd consecutive daily sale. This was driven by short sales and, to a lesser extent, by liquidating long positions. This also marks the 5th day of net outflows over the last 6. 5 of 11 sectors experienced liquidation, led by Information Technology, Industrials, and Materials. Semiconductor and Semiconductor Equipment, Communications Equipment, and Tech Hardware faced the heaviest pressure. Sentiment among hedge funds is shifting.(The Kobeissi Letter)