Empresa Nacional de Electricidad (ADR) (NYSE:EOC) was in 7 hedge funds’ portfolio at the end of the first quarter of 2013. EOC has seen a decrease in hedge fund interest recently. There were 8 hedge funds in our database with EOC positions at the end of the previous quarter.
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Now, let’s take a peek at the recent action encompassing Empresa Nacional de Electricidad (ADR) (NYSE:EOC).
What have hedge funds been doing with Empresa Nacional de Electricidad (ADR) (NYSE:EOC)?
Heading into Q2, a total of 7 of the hedge funds we track held long positions in this stock, a change of -13% from the previous quarter. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were increasing their holdings substantially.
When looking at the hedgies we track, Amber Capital, managed by Joseph Oughourlian and Michel Brogard, holds the most valuable position in Empresa Nacional de Electricidad (ADR) (NYSE:EOC). Amber Capital has a $6.4 million position in the stock, comprising 8.2% of its 13F portfolio. Coming in second is Jim Simons of Renaissance Technologies, with a $5.4 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers that are bullish include Cliff Asness’s AQR Capital Management, Jane Mendillo’s Harvard Management Co and Ken Griffin’s Citadel Investment Group.
Seeing as Empresa Nacional de Electricidad (ADR) (NYSE:EOC) has faced a declination in interest from hedge fund managers, it’s safe to say that there exists a select few money managers that elected to cut their positions entirely heading into Q2. It’s worth mentioning that D. E. Shaw’s D E Shaw said goodbye to the largest investment of all the hedgies we monitor, worth close to $1.7 million in stock., and Steven Cohen of SAC Capital Advisors was right behind this move, as the fund said goodbye to about $0.3 million worth. These moves are important to note, as aggregate hedge fund interest dropped by 1 funds heading into Q2.
Insider trading activity in Empresa Nacional de Electricidad (ADR) (NYSE:EOC)
Insider trading activity, especially when it’s bullish, is particularly usable when the company we’re looking at has experienced transactions within the past half-year. Over the last six-month time frame, Empresa Nacional de Electricidad (ADR) (NYSE:EOC) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Empresa Nacional de Electricidad (ADR) (NYSE:EOC). These stocks are FirstEnergy Corp. (NYSE:FE), Korea Electric Power Corporation (ADR) (NYSE:KEP), Edison International (NYSE:EIX), Huaneng Power International Inc (ADR) (NYSE:HNP), and Xcel Energy Inc (NYSE:XEL). This group of stocks belong to the electric utilities industry and their market caps are closest to EOC’s market cap.