Hedge funds picked a tough time to load up on GE in the second quarter, and those that didn't exit before the August 15 sell-off got whacked.
Hedge funds scooped up more shares of General Electric in the second quarter than any other company in the industrial sector. The funds were most likely trying to buy the dip as the stock has shed more than 60% of its market value over the last two years. It's possible some of these funds sold shares before GE's sell-off on Thursday sparked by Harry Markopolos's fraud accusations, but many likely still held the stock and took a hit.
Hedge funds scooped up more shares of General Electric in the second quarter than any other company in the industrial sector. The funds were most likely trying to buy the dip as the stock has shed more than 60% of its market value over the last two years. It's possible some of these funds sold shares before GE's sell-off on Thursday sparked by Harry Markopolos's fraud accusations, but many likely still held the stock and took a hit.
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