Hedge funds' short-covering of tech bets is 2nd biggest in a decade - banks
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Hedge funds betting against stocks in the technology sector rushed to unwind those trades in the first half of February as markets rallied, data from Goldman Sachs (GS.N) and JPMorgan & Chase prime brokerage units showed on Thursday. “The short covering in U.S. tech stocks from Jan 31st to Feb 15th is the second largest in magnitude over any 12-day period in the past decade,” Goldman Sachs wrote in a note reviewed by Reuters
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