Billionaires Are Selling Nvidia Stock and Buying 2 Magnificent Index Funds Instead
IVZInvesco(IVZ) The Motley Fool·2024-06-16 17:12

These successful hedge fund managers are betting on growth stocks and Bitcoin. Several hedge fund billionaires trimmed their positions in Nvidia (NVDA 1.75%) during the first quarter, and patched the holes in their portfolios by purchasing the Invesco QQQ Trust (NASDAQ: QQQ) and/or the iShares Bitcoin Trust (NASDAQ: IBIT), two index funds with significant growth prospects. Steven Cohen of Point72 Asset Management sold 304,505 shares of Nvidia, reducing his stake by 55%. He also started a small position in t ...