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Hedge Funds

Spotify, Altaba Hedge Fund Favorites In Q2

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Forget FAANG stocks. When it comes to what hedge funds favored during the second quarter Spotify (SPOT) and Altaba (AABA) were the favorites. Citing data from FactSet Research, Barron’s reported that during the three months ended in June the most popular tech stocks for hedge funds were the streaming music service Spotify and the remnants of Yahoo, Altaba. According to Barron’s, hedge funds amassed a $3.5 billion stake in Spotify with Tiger Global Management leading the charge. According to the data, it acquired $2.5 billion shares during the second quarter, representing 12.6% of its $19.7 billion in total equity assets.

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