Hedge funds have pulled back from one of the biggest short positions in U.S. tech stocks in over a decade, in a near-record buying spree of Nasdaq futures last week.
Net speculative positions in Nasdaq 100 mini contracts surged by the most in more than 13 years in the week through Oct. 13, according to the latest Commodity Futures Trading Commission data. The increase was the second biggest on record in data going back to 1999 and left speculators net long the futures for the first time since the beginning of last month.
The buying frenzy comes after fast-money accounts had driven net short bets to the highest level since before the financial crisis during September.
The U.S. tech gauge has risen more 9% from its Sept. 23 low amid signs of a return of bullish options activity that helped push it to an all-time high earlier that month. It remains about 5% below that record.
The dialing back of bearish expectations for tech stocks coincided with an increase in wagers that equity volatility will decline. Net short non-commercial positions on futures linked to the Cboe Volatility Index hit the largest since February, the CFTC data showed.
Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B
“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.
The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO
For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.
Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions
Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
