Hedge Funds Are Pouring Into Itau Unibanco Holding SA (ADR) (ITUB) in Droves

Now, some big names were breaking ground themselves. Marshall Wace LLP, managed by Paul Marshall and Ian Wace, created the most outsized position in Itau Unibanco Holding SA (ADR) (NYSE:ITUB). Marshall Wace LLP had $10.3 million invested in the company at the end of the quarter. David Halpert’s Prince Street Capital Management also made a $4.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Jacob Rothschild’s RIT Capital Partners and Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks similar to Itau Unibanco Holding SA (ADR) (NYSE:ITUB). These stocks are BlackRock, Inc. (NYSE:BLK), The Dow Chemical Company (NYSE:DOW), HDFC Bank Limited (ADR) (NYSE:HDB), and BT Group plc (ADR) (NYSE:BT). This group of stocks’ market values resemble ITUB’s market value.

As you can see these stocks had an average of 26.75 hedge funds with bullish positions and the average amount invested in these stocks was $1.16 billion. That figure was $770 million in ITUB’s case. The Dow Chemical Company (NYSE:DOW) is the most popular stock in this table. On the other hand BT Group plc (ADR) (NYSE:BT) is the least popular one with only 7 bullish hedge fund positions. Itau Unibanco Holding SA (ADR) (NYSE:ITUB) 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 DOW might be a better candidate to consider for a long position.

Disclosure: None