Hedge funds bought U.S. tech and media stocks at the fastest pace in four months last week, said a Goldman Sachs prime brokerage note to clients seen by Reuters on Monday, spurred by the Federal Reserve's anticipated 50-basis point rate cut.

Rate cuts are eating into money market fund yields. Invest your cash in these 3 places instead, according to Goldman Sachs.

Hedge funds accelerated their purchases of U.S. tech and media stocks at the fastest rate in four months last week, as per a prime brokerage note from Goldman Sachs (NYSE:GS), Reuters reported on Monday.