This is interesting: Hedge funds have been selling US tech ...

This is interesting:

Hedge funds have been selling US tech stocks at the fastest pace in at least 7 years this month, according to Goldman Sachs.

Semiconductor stocks have been the most heavily sold, followed by software and internet stocks.

This comes after Nasdaq 100 has rallied 18% year-to-date and 40% since October 2023.

At the same time, the Semiconductor Index, $PHLX Semiconductor Index(.SOX.US)$ , has skyrocketed by 30% and 70%, respectively.

As a result, $PHLX Semiconductor Index(.SOX.US)$ relative to the S&P 500 has exceeded Dot-com bubble levels and traded near an all-time high.

Are hedge funds turning bearish of tech?