Hedge Funds Are Crazy About Advanced Semiconductor Engineering (ADR) (ASX)

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Consequently, key money managers have jumped into Advanced Semiconductor Engineering (ADR) (NYSE:ASX) headfirst. Highbridge Capital Management, led by Glenn Russell Dubin, created the biggest position in Advanced Semiconductor Engineering (ADR) (NYSE:ASX). Highbridge Capital Management had $0.3 million invested in the company at the end of the quarter. Daniel S. Och’s OZ Management also made a $0.2 million investment in the stock during the quarter. The following funds were also among the new ASX investors: Mike Vranos’s Ellington and Louis Navellier’s Navellier & Associates.

Let’s now review hedge fund activity in other stocks similar to Advanced Semiconductor Engineering (ADR) (NYSE:ASX). These stocks are Coty Inc (NYSE:COTY), Arch Capital Group Ltd. (NASDAQ:ACGL), Newfield Exploration Co. (NYSE:NFX), and Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY). This group of stocks’ market values resemble ASX’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
COTY 46 3034196 33
ACGL 18 812370 -6
NFX 45 738096 0
RDY 9 421800 2

As you can see these stocks had an average of 29.5 hedge funds with bullish positions and the average amount invested in these stocks was $1252 million. That figure was $198 million in ASX’s case. Coty Inc (NYSE:COTY) is the most popular stock in this table. On the other hand Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY) is the least popular one with only 9 bullish hedge fund positions. Advanced Semiconductor Engineering (ADR) (NYSE:ASX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard COTY might be a better candidate to consider taking a long position in.

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Disclosure: None




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