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Hedge Funds Are Betting On Anika Therapeutics, Inc. (ANIK)

Anika Therapeutics, Inc. (NASDAQ:ANIK) was in 7 hedge funds’ portfolio at the end of the first quarter of 2013. ANIK investors should pay attention to an increase in activity from the world’s largest hedge funds recently. There were 6 hedge funds in our database with ANIK positions at the end of the previous quarter.

Anika Therapeutics, Inc. (NASDAQ:ANIK)According to most market participants, hedge funds are seen as slow, old investment vehicles of years past. While there are more than 8000 funds in operation at the moment, we hone in on the aristocrats of this group, around 450 funds. Most estimates calculate that this group controls the lion’s share of all hedge funds’ total capital, and by paying attention to their best picks, we have uncovered a number of investment strategies that have historically beaten the S&P 500 index. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have beaten the S&P 500 index by 23.3 percentage points in 8 months (see the details here).

Just as integral, optimistic insider trading sentiment is a second way to parse down the financial markets. Just as you’d expect, there are plenty of stimuli for an insider to cut shares of his or her company, but only one, very obvious reason why they would buy. Many empirical studies have demonstrated the useful potential of this strategy if you understand where to look (learn more here).

Consequently, it’s important to take a gander at the key action regarding Anika Therapeutics, Inc. (NASDAQ:ANIK).

Hedge fund activity in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Heading into Q2, a total of 7 of the hedge funds we track were bullish in this stock, a change of 17% from one quarter earlier. With hedge funds’ capital changing hands, there exists a few key hedge fund managers who were upping their holdings substantially.

According to our comprehensive database, Renaissance Technologies, managed by Jim Simons, holds the most valuable position in Anika Therapeutics, Inc. (NASDAQ:ANIK). Renaissance Technologies has a $5.3 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Algert Coldiron Investors, managed by Peter Algert and Kevin Coldiron, which held a $1 million position; 0.3% of its 13F portfolio is allocated to the stock. Other hedgies that are bullish include John Overdeck and David Siegel’s Two Sigma Advisors, Mark N. Diker’s Diker Management and Israel Englander’s Millennium Management.

With a general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Algert Coldiron Investors, managed by Peter Algert and Kevin Coldiron, established the most valuable position in Anika Therapeutics, Inc. (NASDAQ:ANIK). Algert Coldiron Investors had 1 million invested in the company at the end of the quarter. Mark N. Diker’s Diker Management also initiated a $0.4 million position during the quarter.

How have insiders been trading Anika Therapeutics, Inc. (NASDAQ:ANIK)?

Insider buying is at its handiest when the company in focus has seen transactions within the past six months. Over the latest half-year time frame, Anika Therapeutics, Inc. (NASDAQ:ANIK) has seen zero unique insiders purchasing, and 2 insider sales (see the details of insider trades here).

With the returns shown by Insider Monkey’s research, everyday investors must always monitor hedge fund and insider trading sentiment, and Anika Therapeutics, Inc. (NASDAQ:ANIK) is an important part of this process.

Click here to learn why you should track hedge funds

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