© Reuters. FILE PHOTO: A man wears a protective mask as he walks on Wall Street during the coronavirus outbreak in New York
NEW YORK (Reuters) – U.S. hedge funds last week bought and sold the most stock in more than 10 years amid wild swings in GameStop Corp (NYSE:) shares that many had bet against, but their market exposure to stocks is still near record levels, according to an analysis by Goldman Sachs (NYSE:) Inc.
“According to Goldman Sachs Prime Services, this week represented the largest active hedge fund de-grossing since February 2009. Funds in their coverage sold long positions and covered shorts in every sector,” the investment bank wrote in a note late Friday.
“Despite this active deleveraging, hedge fund net and gross exposures on a mark-to-market basis both remain close to the highest levels on record, indicating ongoing risk of positioning-driven sell-offs.”
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.