What stocks surpass Mag7 and rise to the leading role in mutual funds?
On 8/5, after the stock price crash “Black Monday,” major US indices $Dow Jones Industrial Average (.DJI.US)$, $S&P 500 Index (.SPX.US)$The monthly rate of increase in August was almost 2%. Dow, S&P 500 Equal Weight Index ( $Invesco Exchange Traded Fd Tr S&P 500 Equal Weight Etf (RSP.US)$) also hit a new high in August. Meanwhile, $Nasdaq Composite Index (.IXIC.US)$It remained an increase of less than 1% and is represented by “Mag 7” $Roundhill Magnificent Seven ETF (MAGS.US)$fell 0.69% in August, and the boom in the AI market cooled down somewhat.
The “hot eye” of US mutual funds is also moving away from Mag7. According to this month's mutual fund stock purchase rankings compiled by Investor's Business Daily, after the market rotation, these major institutions did not choose additional investments in popular US stocks such as Mag7 and the AI sector, but instead looked at other sectors and invested in potential growth stocks.
Bridgewater, the world's largest hedge fund, conducted research on the history of the US market and revealed that few companies or industries have always maintained a dominant position before innovative companies.
According to Goldman Sachs data, funds were flowing out of 7 of the 11 major sectors of the S&P 500 index at the beginning of July. While funds have flowed out mainly in the information technology (IT), communication services, and daily necessities sectors, general consumer goods, energy, public welfare, real estate, etc.Overbought business cycle stocksIt became. As for the bank, hedge funds have been trading information technology stocks for 4 consecutive weeksEmphasize that it has been oversoldI did it. Also, according to Goldman Sachs, global hedge funds oversold stocks for 5 consecutive months in August, and Reuters confirmed that the pace was the fastest since 2022/3.
$NVIDIA (NVDA.US)$It rose more than 3% on Monday, but the company is stillIt is 10% below the 50-day moving average. $Apple (AAPL.US)$Shares also fell below the same standard even after the release of the iPhone 16, which is expected to begin the biggest upgrade cycle in the company's history. Meanwhile, while the NASDAQ is trying to solidify its foothold after the market price drop last week, $Netflix (NFLX.US)$The stock price of is above the 50-day moving average.
In the ranking of total monthly purchases of mutual funds, Netflix, a major video distribution company, came out on top with a fund inflow of 0.6 billion82 million dollars. Major rice pharmaceutical company $Eli Lilly and Co (LLY.US)$It came in second place with an inflow of funds of 0.6 billion 67 million dollars.
Furthermore, the third-largest US insurance group $WR Berkley (WRB.US)$(0.5 billion98 million dollars), waste disposal company $Republic Services (RSG.US)$(0.4 billion91 million dollars), leading healthcare company $UnitedHealth (UNH.US)$A large amount of money also flowed into (0.4 billion16 million dollars).
$Costco (COST.US)$It also became the top 6 with an inflow of 0.3 billion 44 million dollars of funds into stocks. On 8/29, Costco stock is a member of “Mag7” $Amazon (AMZN.US)$with $Tesla (TSLA.US)$It has risen above
In addition, constructing and providing advanced defense software and solutions $Palantir (PLTR.US)$It is still popular among mutual funds. On Monday, Palantia surged 14% in response to reports that it would be adopted in the S&P 500 stock price index on 9/23.
RELATED ARTICLES
Palantia rises and refrains from being incorporated into the S&P 500
RELATED ARTICLES
Palantia rises and refrains from being incorporated into the S&P 500
Source: Bloomberg, Reuters, IBD, moomoo
— MooMoo News ZOE
This article uses automatic translation for some of its parts
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
