Hedge Funds Are Betting On Talen Energy Corp (TLN)

Consequently, key hedge funds were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, created the largest position in Talen Energy Corp (NYSE:TLN), valued at $2.7 million at the end of the quarter. David Costen Haley’s HBK Investments also made a $1.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Peter Muller’s PDT Partners, Michael Platt and William Reeves’s BlueCrest Capital Mgmt., and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

Let’s also examine hedge fund activity in other stocks similar to Talen Energy Corp (NYSE:TLN). These stocks are Premier Inc (NASDAQ:PINC), Apollo Investment Corp. (NASDAQ:AINV), Axovant Sciences Ltd (NYSE:AXON), and Plexus Corp. (NASDAQ:PLXS). All of these stocks’ market caps resemble TLN’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $369 million. That figure was an unimpressive $89 million in TLN’s case. Premier Inc (NASDAQ:PINC) and Apollo Investment Corp. (NASDAQ:AINV) are fighting for the first place, while Axovant Sciences Ltd (NYSE:AXON) and Plexus Corp. (NASDAQ:PLXS) sit at the bottom of the table with only 15 bullish hedge fund positions. Compared to these stocks Talen Energy Corp (NYSE:TLN) is more popular among hedge funds. 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 detail and potentially include it in your portfolio.