Hedge funds appear to be more sanguine about the prospects of the Information Technology sector in Europe.
According to disclosure statements, there is significantly less short interest in techs now than there were in the trailing three months -- 15% versus 26%. It appears that Health Care and Consumer Staples are attracting more bearish attention. There is incrementally more short investment in Consumer Discretionary, which remains the sector with the most short interest.
Developed Europe accounts for 64% of shorted names and the United Kingdom for 34%. They are concentrated in the mid-cap and large cap spaces.