Hedge funds increased their equity-risk exposure for a second consecutive month in August, Jefferies said Friday, and listed the stocks that money managers swung from long to short positions.
Long exposure was stepped up to 264.8% from 250% at the end of July, the steepest level since November 2022, paced by increased weights for the Industrials and Materials sectors. The S&P 500 (SP500) in August finished 2.3% higher after overcoming a plunge at the start of the month.
Jefferies’ Long-to-Short portfolio had nine sectors represented, and at five, Financials had the most names moving short in August, Steven DeSanctis, U.S. small-mid cap strategist, said in a research note Thursday.
Here are the long-to-short stocks, followed by the weight change from July 31 to August 31:
For investors who want to track the Financials sector with ETFs, here are some: (XLF), (IYF), (FNCL), and (IYG).
Some S&P 500 (SP500) ETFs: (VOO), (IVV), (SPY), (UPRO).
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