Hedge funds taking another bite at momentum stocks
Managers are not deterred by the plunging share prices at the beginning of the year
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New York
HEDGE funds are piling into the same shares that zapped their returns at the start of the year.
They just added momentum stocks for a fifth consecutive quarter, according to an Evercore ISI analysis of 13F filings with the Securities and Exchange Commission. Those shares, loosely defined as the ones that went up the fastest in the past 12 months, posted some of their worst losses in seven years at the start of 2016.
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