Hedge Funds Are Crazy About pSivida Corp. (PSDV)

As aggregate interest increased, some big names have been driving this bullishness. Millennium Management, managed by Israel Englander, established the largest position in pSivida Corp. (NASDAQ:PSDV). Millennium Management had $0.1 million invested in the company at the end of the quarter. Ken Fisher’s Fisher Asset Management also made a $44,000 investment in the stock during the quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as pSivida Corp. (NASDAQ:PSDV) but similarly valued. These stocks are Rocky Brands, Inc. (NASDAQ:RCKY), Triangle Petroleum Corporation (NYSEMKT:TPLM), Riverview Bancorp, Inc. (NASDAQ:RVSB), and A. H. Belo Corporation (NYSE:AHC). This group of stocks’ market caps is similar to pSivida Corp. (NASDAQ:PSDV)’s market cap.

As you can see, these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $10 million. That figure was $13 million in pSivida Corp. (NASDAQ:PSDV)’s case. Triangle Petroleum Corporation (NYSEMKT:TPLM) is the most popular stock in this table. On the other hand, Rocky Brands, Inc. (NASDAQ:RCKY) is the least popular one with only 4 bullish hedge fund positions. pSivida Corp. (NASDAQ:PSDV) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Triangle Petroleum Corporation (NYSEMKT:TPLM) might be a better candidate to consider a long position.