Was today’s move institutional rebalancing into software or simply closing shorts?

Wondering what you think of today’s move in software (IGV).

Was this simply institutions closing their shorts within software names, or do we think they are rebalancing into these names? We’ve seen bounces like this over the last couple months, but have led back to the same old downtrend. I find it interesting that today was the first day of the 2H 26, and the sell off in semis.

PANW +3.23%
MSFT +3.02%
PLTR +7.77%
FIG +7.74%
ADVE +2.91%
WDAY +6.41%