After notable weakness in the tech sector in March and early April, driven by aggressive selling and shorting from the hedge fund universe, the buying is back with a vengeance and according to the latest weekly Goldman Prime Brokerage report (which we will discuss in greater detail in a subsequent post), US Info Tech was by far the most notionally net bought sector on the bank's global Prime book last week (4/19 – 4/25), driven by long buys and short covers (2.3 to 1).
According to the PB desk, HFs have net bought US Tech stocks for 11 consecutive trading sessions and 4 straight weeks...
