Hedge Funds Are Dumping TICC Capital Corp. (TICC)

Judging by the fact that TICC Capital Corp. (NASDAQ:TICC) has experienced falling interest from the entirety of the hedge funds we track, it’s safe to say that there were a few funds that elected to cut their full holdings last quarter. At the top of the heap, Israel Englander’s Millennium Management dumped the largest position of the “upper crust” of funds monitored by Insider Monkey, comprising an estimated $1.1 million in stock, and D. E. Shaw’s D E Shaw was right behind this move, as the fund cut about $0.2 million worth. These moves are interesting, as aggregate hedge fund interest fell by 1 funds last quarter.

Let’s go over hedge fund activity in other stocks similar to TICC Capital Corp. (NASDAQ:TICC). We will take a look at Stonegate Bank (NASDAQ:SGBK), Noodles & Co (NASDAQ:NDLS), Century Aluminum Co (NASDAQ:CENX), and Ashford Hospitality Prime Inc (NYSE:AHP). This group of stocks’ market caps match TICC’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $31 million. That figure was $29 million in TICC’s case. Century Aluminum Co (NASDAQ:CENX) is the most popular stock in this table. On the other hand Noodles & Co (NASDAQ:NDLS) is the least popular one with only 7 bullish hedge fund positions. TICC Capital Corp. (NASDAQ:TICC) 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 CENX might be a better candidate to consider a long position.