EXCO Resources Inc (XCO) Sinks In Closing Hour Of Trading

Seeing as EXCO Resources Inc (NYSE:XCO) has faced falling interest from the entirety of the hedge funds we track, we can see that there were a few hedge funds who sold off their positions entirely last quarter. Intriguingly, Zach Schreiber’s Point State Capital sold off the biggest investment of all the hedgies watched by Insider Monkey, valued at close to $1.2 million in stock. David Costen Haley’s fund, HBK Investments, also sold off its stock, about $0.9 million worth. These transactions are intriguing to say the least, as total hedge fund interest was cut by 3 funds last quarter.

Let’s check out hedge fund activity in other stocks similar to EXCO Resources Inc (NYSE:XCO). These stocks are LSI Industries, Inc. (NASDAQ:LYTS), Sequenom, Inc. (NASDAQ:SQNM), Charter Financial Corp (NASDAQ:CHFN), and Blue Bird Copr (NASDAQ:BLBD). All of these stocks’ market caps are closest to EXCO Resources ‘s market cap.

As you can see these stocks had an average of 9.25 hedge funds with bullish positions and the average amount invested in these stocks was $40 million. That figure was $93 million in EXCO Resources’ case. Sequenom, Inc. (NASDAQ:SQNM) is the most popular stock in this table. On the other hand Blue Bird Copr (NASDAQ:BLBD) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks EXCO Resources Inc (NYSE:XCO) is more popular among hedge funds and has more invested in it. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in further detail and potentially include it in your portfolio.