Dan Niles says he shifted his short positions to tech stocks and away from reopening plays

Daniel Niles
John Chiala | CNBC

(This story is for CNBC Pro subscribers only). 

Hedge fund manager Dan Niles said Thursday that he had shifted away from shorting stocks tied to the reopening of the economy in recent weeks and was betting against some of the top-performing tech stocks. 

Niles, a founding partner of AlphaOne Capital Partners, said on "Closing Bell" that the valuations for some tech stocks has gone "too far, too fast"