Hedge Fund Starts Profiting from Semiconductor Stock Take Profits

May 21: Per HTX market data, HYPE surged above its prior high of $59.3, now trading at $59.6978, hitting a new all-time high after eight months.

May 21 — According to Bitget market data, during U.S. trading hours, both WTI and Brent crude oil continued to climb. WTI crude hit $106 per barrel, rallying 3.39% intraday. Brent crude is currently trading at $105.81 per barrel, up 3.26% so far on the day.

May 21st: U.S. Markit’s preliminary May PMI data shows the Services PMI came in at 50.9, missing the market consensus estimate of 51.1 and lower than the prior reading of 51. Meanwhile, the preliminary May Markit Manufacturing PMI for the U.S. printed at 55.3, beating expectations of 53.8 and the previous figure of 54.5.

May 21: Per Bitget market data, the three major U.S. stock indexes opened lower today. The Dow Jones Industrial Average fell 0.27%, the S&P 500 dropped 0.39%, and the Nasdaq Composite declined 0.5%. Microsoft was a standout gainer, rising 1.1% on news that AI startup Anthropic is in talks with the company to use its artificial intelligence chips. This morning, Nvidia— which reported its first-quarter (Q1) earnings after the prior session’s market close—edged down 1%. Conversely, cryptocurrency-focused stock Circle outperformed peers, surging over 2%. Separately, the U.S. quantum computing sector posted sharp gains, fueled by word of U.S. government financial support. D-Wave Quantum jumped 16%, Rigetti Computing rose 14%, Infleqtion rallied 25%, the broader quantum computing stock group gained 9%, and Ionq added 3.1%.

MAY 21 – The bipartisan hybrid political action committee (PAC) Blockchain Leadership Fund, co-founded by Anchorage Digital and Chainlink in March of this year, announced its first slate of endorsements for the 2026 U.S. midterm elections, revealing it will issue campaign donations to multiple congressional candidates from both the Republican and Democratic parties. The endorsed candidates include Senate hopefuls Barry Moore, Kurt Alme, Jon Husted, and Angie Craig, plus House candidates Houston Gaines, Jim Kingston, Jon Bonck, Adrian Boafo, Christian Menefee, and Don Davis. The races span key states across the country: Alabama, Montana, Ohio, Minnesota, Georgia, Texas, Maryland, and North Carolina. The PAC noted it will continue vetting candidates and expand its support to include competitive races at the federal, state, and local levels moving forward.

On May 21st, per HTX market data, Bitcoin accelerated its downward movement after U.S. stock markets opened, breaking below the $77,000 level. As of press time, it is trading at $76,911.06, down 0.69% over the past 24 hours.