Investors turned on their favorite group of stocks recently, dumping tech shares in historic numbers and increasing their bets against the sector amid a September sell-off. The move came just before the shares began to stabilize this week, but it remains to be seen whether the bearish tilt represented the kind of capitulation that marks a bottom for a sector.
The Invesco QQQ Trust, which tracks the tech-heavy Nasdaq 100, posted its biggest outflow since October 2000 on Friday, according to Bespoke Investment Group. The massive exodus came amid a 3-day sell-off for the Nasdaq 100 last week.
It’s not just a one-day phenomenon. Inflows into the QQQ hovered near multi-year highs for most of…