Goldman: Hedge funds sold global stocks at the fastest pace in two years in June
Hedge funds continued to sell global stocks for the third consecutive month in June, recording the fastest pace of sales since June 2022, according to a Goldman Sachs note. The sales were mainly driven by short-term sales.
Nine out of eleven global sectors were sold net in June, led by information technology, financial services, real estate, and basic commodities, according to the note. Goldman Sachs noted that “ETF short sales now account for 10.2% of total short sales of U.S. stocks (excluding index products).”
On a regional level, hedge funds sold advanced market stocks in Asia for the first time in six months and at the fastest pace since last September, led by Singapore, Australia, Hong Kong, and Japan. Emerging markets in Asia were the most purchased in June, with Korea and Taiwan being the most bought markets.
