5 Tech Stocks Hedge Funds are Buying Despite Rising Interest Rates

In this article, we discuss the 5 tech stocks that hedge funds are buying despite rising interest rates. If you want to read about some tech stocks that hedge funds like, go directly to 10 Tech Stocks Hedge Funds are Buying Despite Rising Interest Rates.

5. Switch, Inc. (NYSE:SWCH)

Number of Hedge Fund Holders in Q2 2022: 31 

Number of Hedge Fund Holders in Q1 2022: 14     

Switch, Inc. (NYSE:SWCH) provides internet services and related infrastructure. Switch, Inc. (NYSE:SWCH) was founded in 2000 and is based in Las Vegas. The company develops and operates data centers in the states of Nevada, Michigan, and Georgia. It primarily serves technology and digital media companies, finance institutions, and government agencies.

The company claims that the data center services it provides are far superior to peers. The firm bases these claims on patented technology and third party audits. As cloud computing continues to attract companies all over the world, data center firms like Switch are benefiting from this as well since cloud firms need data center solutions to continue to offer seamless services. Data center firms are digital versions of real estate investment trusts. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Pentwater Capital Management is a leading shareholder in Switch, Inc. (NYSE:SWCH), with 6.5 million shares worth more than $218 million.