RESOLVING THE LEDGER
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Investment managers seemed to favor one particular equity market sector last quarter as artificial intelligence (AI) stocks wavered. Hedge funds increased their tilt toward financial stocks by 300 basis points, according to an analysis by Goldman Sachs ' Ben Snider. He also noted that mutual funds increased their exposure to levels last reached in 2012 relative to their benchmark indexes.
Two fintech stocks have found favor with both hedge funds and mutual funds, which tend to have different investment time horizons. That means both near-term catalysts and long-term trends could push the stocks higher from here, even though they've already seen their prices climb considerably since the end of March.
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