NEW YORK, June 27 (Reuters) - The value of equities investors bought on the New York Stock Exchange with borrowed money rose 0.3 percent in May from the previous month, marking the first monthly increase since reaching a record high in February.
NYSE margin debt accounts totaled $438.5 billion in May, up slightly from $437.2 billion in April, exchange data showed on Tuesday.
Margin debt is one way to measure how much risk hedge funds and other large investors are taking to enhance their returns through the use of borrowed cash. Extremely high readings are seen as a gauge of overly bullish sentiment. (Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)