CTAs and quant macro strategies performed the best among hedge fund strategies in April but are still down year to date, while long short strategies saw crowded shorts underperform crowded long stock strategies, according to the UBS Hedge Fund Monthly Update for April.
Crowded shorts and longs
Some of the most popular crowded shorts in the tech sector were International Business Machines Corp. (NYSE:IBM), up 2.1% on the month, and Intel Corporation (NASDAQ:INTC), which performed positively by 3.4% on the month. Some of the profitable crowded shorts included LinkedIn Corp (NYSE:LNKD), down -17%, salesforce.com, inc. (NYSE:CRM), down -9.5%. The average crowded short play delivered -6.4%...
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