Hedge funds have significantly increased their exposure to the 'Magnificent Seven' technology stocks, reaching a record high following Nvidia's estimate-thumping earnings report. According to Goldman Sachs data, hedge funds' exposure to these major tech companies now constitutes 20.7% of their total net exposure. Nvidia's stock has seen a remarkable surge, currently trading close to 81% above its 200-day moving average and contributing to a $2.7 trillion valuation. This surge has also fueled a rally in leveraged ETFs, with the 2x Leveraged Long NVDA Daily ETF ($NVDL) up 450% over the last 12 months. The ETF's volume hit $4.7 billion last week, the highest since its inception in December 2022. Hedge funds have never been more long the Magnificent 7 stocks, exceeding last summer's peak exposure, according to Bloomberg.
The $NVDA 2x Bullish ETF has seen a +450% return in the past year 👀 https://t.co/jQ7Nkxu2yS
The 2x Leveraged Long NVDA Daily ETF, $NVDL, is up 450% over the last 12 months. Its price has DOUBLED in just a few weeks. Last week, the ETF's volume hit $4.7 billion, the most since its inception in December 2022. Investors want even more leverage and risk than Nvidia… https://t.co/i0PyhQhwBE
🇺🇸 Bullish #Nvidia Trade Soars as Day Traders Bet on Leveraged #ETFs – Bloomberg https://t.co/aBgQUimRZ0 https://t.co/rgPTP6RB1Y
Goldman Sachs data shows that hedge fund exposure to “Magnificent 7” rises to record high https://t.co/MvFbVKdOU6
Hedge Funds’ Exposure to Magnificent Seven at Record High as Nvidia Soars, according to Bloomberg https://t.co/upXwdkIQ8m
The latest Nvidia frenzy is fueling an unprecedented rally in the booming industry of leveraged-up ETFs https://t.co/L5vKg6Skyz
Hedge funds have never been more long the Magnificent 7 stocks, exceeding last summer's peak exposure https://t.co/pieMptXJJR
20.7% of hedge funds’ total net exposure> Hedge Funds’ Exposure to Magnificent Seven at Record High as Nvidia Soars Hedge funds’ exposure to US technology behemoths hit a record high following Nvidia Corp.’s estimate-thumping earnings report last week, according to Goldman…
Hedge funds’ exposure to the Magnificent Seven technology stocks hit a record high following Nvidia's earnings https://t.co/4E8rSupJ1O
Nvidia $NVDA —- close to 81% above its 200-day moving average, spent very little time up here over the last decade, and that was when the equity was just a fraction of the current $2.7T valuation. https://t.co/iRJl8TYBbf