Is Companhia Siderurgica Nacional (ADR) (NYSE:SID) going to take off soon? Prominent investors are becoming hopeful. The number of long hedge fund positions advanced by 3 lately.
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Now, we’re going to take a peek at the latest action encompassing Companhia Siderurgica Nacional (ADR) (NYSE:SID).
What have hedge funds been doing with Companhia Siderurgica Nacional (ADR) (NYSE:SID)?
At the end of the fourth quarter, a total of 11 of the hedge funds we track held long positions in this stock, a change of 38% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were boosting their stakes significantly.
According to our comprehensive database, Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, holds the largest position in Companhia Siderurgica Nacional (ADR) (NYSE:SID). Arrowstreet Capital has a $6.2 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Israel Englander of Millennium Management, with a $5.3 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining peers that hold long positions include Ken Griffin’s Citadel Investment Group, Jason Adler’s AlphaBet Management and David Costen Haley’s HBK Investments.
With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. Millennium Management, managed by Israel Englander, initiated the largest position in Companhia Siderurgica Nacional (ADR) (NYSE:SID). Millennium Management had 5.3 million invested in the company at the end of the quarter. Mike Vranos’s Ellington also made a $0.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Steven Cohen’s SAC Capital Advisors and D. E. Shaw’s D E Shaw.
What have insiders been doing with Companhia Siderurgica Nacional (ADR) (NYSE:SID)?
Bullish insider trading is best served when the company we’re looking at has seen transactions within the past 180 days. Over the latest 180-day time period, Companhia Siderurgica Nacional (ADR) (NYSE:SID) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Companhia Siderurgica Nacional (ADR) (NYSE:SID). These stocks are United States Steel Corporation (NYSE:X), Nucor Corporation (NYSE:NUE), Gerdau SA (ADR) (NYSE:GGB), Steel Dynamics, Inc. (NASDAQ:STLD), and Ternium S.A. (ADR) (NYSE:TX). All of these stocks are in the steel & iron industry and their market caps are similar to SID’s market cap.