Hedge funds bought U.S. stocks at the fastest pace in six months last week, according to data from Goldman Sachs' prime brokerage division. The buying coincided with the S&P 500 extending its record rally.
Goldman traders noted in a client report that the volume boost came from long purchases of index products and ETFs, as well as short covering. Short interest in U.S.-listed ETFs fell for a second straight week, down 0.6%. Enthusiasm for AI infrastructure and better-than-expected earnings continued to drive the U.S. stock market. The S&P 500 has risen for nine consecutive weeks, its longest streak since 2023. The Nasdaq 100, heavy with tech stocks, is up over 20% this year.
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