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Analysts say that portfolio managers are increasing their positions in selected technology issues on the assumption that the underperforming group will recover later in the the year.
We've been through a lot over the past few months and, for many investors, the thought of going back into stocks (or increasing their positions) is too anxiety provoking to consider.
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But the rest have bought the dip in ABM, increasing their position by 12% in the last two weeks.
So the M100 decided the smart move was to hedge these new bets on the small-caps by also last week increasing their position in the UltraShort Russell2000 ProShares, an exchange-traded fund that moves double in the opposite direction of the Russell 2000.
Some people might repeatedly download their own programs to increase their positions in the statistics.
Our moneymen also pulled back from corporate America; only Credit Suisse and Standard Life increased their positions in American shares from the previous quarter.
Short selling could drag stocks down further as hedge funds increase their positions, according to Jake Robbins, a fund manager at Premier Asset Management.
"The increase is probably due to the fact that Irish, Portuguese and Greek banks increased their positions, most likely, in our view, for precautionary reasons because of the current tough market situation," the BarCap analysts said.
Even when Syriza came to power in January and markets wobbled, a few opportunistic investors increased their positions, convinced the difficulties would be temporary.Today few foreigners remain and most of those have trimmed their positions.
Two gurus increased their positions in UPS.
In that space, the M100 last week increased their positions in Biogen Idec.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com