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3 Of The Stocks Most Sold By Hedge Funds In 2016

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A report by FactSet in May highlighted some of the pain felt by hedge fund managers in 2016. Investopedia reported on three of the stocks most sold by hedge funds in the first quarter of the year.

  • Apple Inc. (NASDAQ: AAPL): The most widely sold stock by the top 50 hedge funds, due mostly to Carl Icahn’s selling his stake.
  • Broadcom Limited (NASDAQ: AVGO): Second-most sold stock, no bad news for the company, but Investopedia thinks it's likely hedge funds sold out due to the completion of its recent merger with Avago Technologies.
  • Air Products and Chemicals, Inc (NYSE: APD): Overall, hedge funds dumped $2.5 billion worth of shares, perhaps predicated on global growth concerns.

Here’s how these stocks have performed year-to-date versus the S&P:

  • Apple down 6.81 percent
  • Broadcom up 12.8 percent
  • Air Products and Chemicals up 12 percent
  • S&P 500 up 3 percent
 

Related Articles (AAPL + AVGO)

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Posted-In: InvestopediaHedge Funds General