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Apple and 4 Other Stocks Hedge Funds Hated Last Quarter

NEW YORK (TheStreet) -- Which stocks did big hedge fund managers shy away from in the second quarter?

Hedge funds hated information technology stocks, with $3.12 billion in net sells last quarter, following $1.2 billion sector stock sales in the first quarter. Decreases in industrials and financial services stocks were the second and third most sold sectors by the large hedge funds, according to S&P Capital IQ's, a division of McGraw Hill Financial (MHFI - Get Report), quarterly hedge fund tracker, released last week. The report analyzes Securities and Exchange Commission 13-F filings by the 10 largest hedge funds by asset size to spotlight big buying and selling trends.

Apple (AAPL - Get Report) and Micron Technology (MU - Get Report) were among the most sold stocks were with $1.1 billion and $900 million in net sales, respectively, said S&P Capital IQ.

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In contrast, big hedge fund managers poured more than $7 billion into health care stocks in the first quarter. Following health care stocks, hedge fund managers purchased put $2.36 billion investing dollars into consumer discretionary stocks, followed by $856 million in consumer staples.

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