Hedge Funds Are Dumping DuPont Fabros Technology, Inc. (DFT)

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Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. Interestingly, Ken Heebner’s Capital Growth Management said goodbye to the largest stake of all the investors monitored by Insider Monkey, worth an estimated $49.9 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund cut about $2.8 million worth of DuPont Fabros Technology, Inc. (NYSE:DFT) shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as DuPont Fabros Technology, Inc. (NYSE:DFT) but similarly valued. These stocks are Bank of Hawaii Corporation (NYSE:BOH), Avis Budget Group Inc. (NASDAQ:CAR), Integrated Device Technology, Inc. (NASDAQ:IDTI), and NRG Yield, Inc. Class C (NYSE:NYLD). This group of stocks’ market values are similar to DFT’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BOH 10 49640 2
CAR 30 1080116 -3
IDTI 25 311391 -1
NYLD 25 209760 -4

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $413 million. That figure was $269 million in DFT’s case. Avis Budget Group Inc. (NASDAQ:CAR) is the most popular stock in this table. On the other hand Bank of Hawaii Corporation (NYSE:BOH) is the least popular one with only 10 bullish hedge fund positions. DuPont Fabros Technology, Inc. (NYSE:DFT) 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 CAR might be a better candidate to consider taking a long position in.

Disclosure: none.

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