S&P 500 in negative territory as hedge funds sell

Stocks fell on Thursday.

The S&P 500 fell 0.4 percent, turning negative for the year.

Hedge funds have been a contributor to the market's poor performance.

According to Andrew Birstingl of FactSet, hedge funds decreased their exposure to equities by 6.9 percent in the first and sold off assets in every sector that FactSet tracks.