Hedge Funds Are Betting On InfraREIT Inc (HIFR)

Seeing as InfraREIT Inc (NYSE:HIFR) has experienced bearish sentiment from the entirety of the hedge funds we track, logic holds that there were a few fund managers that decided to sell off their positions entirely last quarter. Intriguingly, Christopher A. Winham’s Tide Point Capital said goodbye to the largest investment of all the hedgies tracked by Insider Monkey, worth an estimated $32.2 million in stock, and Phill Gross and Robert Atchinson of Adage Capital Management was right behind this move, as the fund dumped about $17 million worth. These transactions are intriguing to say the least, as total hedge fund interest dropped by 7 funds last quarter.

Let’s also examine hedge fund activity in other stocks similar to InfraREIT Inc (NYSE:HIFR). These stocks are Nortek Inc (NASDAQ:NTK), Tennant Company (NYSE:TNC), Knight Capital Group Inc. (NYSE:KCG), and NewLink Genetics Corp (NASDAQ:NLNK). This group of stocks’ market valuations are closest to HIFR’s market valuation.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $182 million. That figure was $189 million in HIFR’s case. Nortek Inc (NASDAQ:NTK) is the most popular stock in this table, while NewLink Genetics Corp (NASDAQ:NLNK) is the least popular one with only 13 bullish hedge fund positions. With 19 bullish hedge fund positions, InfraREIT Inc (NYSE:HIFR) is even more popular than Nortek Inc (NASDAQ:NTK), which indicates that hedge funds are fond of this stock in relation to its market cap peers. Therefore, it may be a good idea to analyze it in detail and make it your choice of investment.