After being bearish on the U.S. stock market, many hedge fund managers have had a change of heart and turned bullish on domestic stocks in a reversal that could underpin market action in the near term, the latest BarclayHedge/TrimTabs Investment research survey said.
About 43 percent of hedge fund managers are now bullish on the S&P 500, a sharp increase from only 27 percent the previous month, and the highest number of bullish managers since December, the monthly survey showed. By contrast, bearish sentiment has plummeted to its lowest readings since January...
Investors, indeed, poured more than $4.3 billion into U.S. equity ETFs in July, making the asset class the leading gainer in the month as it snatched nearly a third of all ETF asset inflows, according to data compiled by IndexUniverse.
Hedge fund managers meanwhile remain “very sour” on long-dated Treasurys, the report said. Bullish sentiment on the 10-year note sank to its smallest reading in more than seven months...
Managers are not as keen on the gold run, either. Nearly 40 percent of them said gold is perhaps the most overbought asset in the market today, compared with oil, equities, U.S. Treasurys and European stocks, the report said...
The two firms, which surveyed 82 managers, track hedge fund flows monthly. BarclayHedge is a closely held Iowa-based research and portfolio management company focused on institutional clients, while TrimTabs is an investment research company.
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