Published:
Large technology stocks dominate the market, but they’re actually “under-owned” by major funds, and that could be an upbeat indicator, according to Morgan Stanley.
A team of analysts led by Erik Woodring looked at the average ownership weighting of megacap technology stocks relative to their weightings in the S&P 500
SPX and found that the grouping hasn’t been this under-owned in at least 16 years. The findings, released in a Wednesday report, are based on third-quarter 13-Fs recently filed by fund managers.