Hedge funds have never been more long the Magnificent 7 stocks, exceeding last summer's peak exposure

A note from Goldman Sachs prime brokerage said that the Big Tech exposure at hedge funds reached a new high last week.

The rising exposure is caused by both trading activity and higher share prices for the Big Tech stocks, particularly Nvidia.Hedge funds are still leaning into the Magnificent 7 trade even with the broader stock market indexes recently hitting record highs. A May 24 note from the Goldman Sachs prime brokerage said that the Big Tech exposure at hedge funds reached a new high last week. "The Magnificent 7 stocks collectively now make up 20.7% of total U.S.

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