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Short selling on individual US-listed stocks is at its highest level in six months, with shares in the tech, telecom and media sector among the most targeted, according to Goldman Sachs Inc. data.
The increase in short positions comes after a powerful 9% first-quarter advance for the S&P 500, with the most number of record closing highs since 2017. The data signals that some hedge funds using long-short equity strategies have started to fight the rally.
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