No it is not consumer discretionary or technology — both frequent stomping grounds for hedge funds. It is not the healthcare sector, another hedge fund favorite, either. Data indicate that in the first quarter, hedge funds, an investment vehicle often viewed as exotic, even sexy, were drawn to boring ol' utilities stocks.
Utilities Are Leaking Success
“According to Pavle Sabic, S&P Global Market Intelligence’s Head of Market Development for Corporates and the author of the hedge-fund tracker research according to S&P Global Market Intelligence’s Hedge Fund Tracker research, the utilities sector was the only one to receive net buys, $164 million, during the first quarter of 2016. The other nine GICS sectors experienced net sells, led by consumer discretionary and information technology, with $4.6 billion and $3.2 billion, respectively,” said S&P Capital IQ in a note out Wednesday.
/www.benzinga.com/trading-ideas/long-ideas/16/05/8004880/hedge-funds-love-this-boring-sector alt=Hedge Funds Love This 'Boring' Sector>Full story available on Benzinga.com
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