Nvidia Stock: Hedge Funds Trim Positions, Put/Call Ratio Now Looks Bearish
Portfolio Pulse from Surbhi Jain
NVIDIA Corp (NASDAQ:NVDA) stock, after gaining 246% in 2023 and over 47% so far in 2024, sees hedge funds trimming their positions, with ownership decreasing from 9.13% to 9.07% in Q4 2023. The put/call ratio has risen to 1.44, indicating increased bearish sentiment among investors. Despite this, some hedge fund managers have increased their stakes in Nvidia.
February 16, 2024 | 6:16 pm
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NVIDIA sees a decrease in hedge fund ownership and an increase in put/call ratio, indicating potential short-term bearish sentiment despite its strong performance.
The reduction in hedge fund ownership and the increase in the put/call ratio to 1.44 suggest a growing caution among investors, potentially leading to a short-term negative impact on NVDA's stock price. However, the strong performance in 2023 and 2024, along with increased stakes by some hedge fund managers, adds complexity to the outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100