Beyond financials and tech, hedge funds and mutual funds moved in tandem across the rest of the market, turning their attention to defensive equities."Hedge funds and mutual funds both increased net tilts in Healthcare, Consumer Staples, and Utilities," Kostin wrote."Both also cut exposure to Info Tech, Consumer Discretionary, and Communication Services. Healthcare replaced Info Tech as the largest sector net exposure for hedge funds.
Among all of those funds, Goldman Sachs found there were nine stocks that they deemed"shared favorites" between two different Goldman Sachs indexes.
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