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Hedge Funds Are Selling Rice Energy Inc (RICE)

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At Insider Monkey we track the activity of some of the best-performing hedge funds like Appaloosa Management, Baupost, and Third Point because we determined that some of the stocks that they are collectively bullish on can help us generate returns above the broader indices. Out of thousands of stocks that hedge funds invest in, small-caps can provide the best returns over the long term due to the fact that these companies are less efficiently priced and are usually under the radars of mass-media, analysts and dumb money. This is why we follow the smart money moves in the small-cap space.

Rice Energy Inc (NYSE:RICE) was in 23 hedge funds’ portfolios at the end of September. Rice Energy Inc (NYSE:RICE) investors should be aware of a decrease in enthusiasm from smart money lately. There were 26 hedge funds in our database with Rice Energy Inc (NYSE:RICE) holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article, we will examine companies such as Integra Lifesciences Holdings Corp (NASDAQ:IART), AVX Corporation (NYSE:AVX), and Chico’s FAS, Inc. (NYSE:CHS) to gather more data points.

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In the eyes of most market participants, hedge funds are viewed as slow, old financial vehicles of the past. While there are greater than 8000 funds trading at present, we choose to focus on the moguls of this club, approximately 700 funds. Most estimates calculate that this group of people direct most of all hedge funds’ total capital, and by tailing their matchless picks, Insider Monkey has deciphered a few investment strategies that have historically surpassed the broader indices. Insider Monkey’s small-cap hedge fund strategy outrun the S&P 500 index by 12 percentage points annually for a decade in their back tests.

Keeping this in mind, let’s view the new action surrounding Rice Energy Inc (NYSE:RICE).

How have hedgies been trading Rice Energy Inc (NYSE:RICE)?

Heading into Q4, a total of 23 of the hedge funds tracked by Insider Monkey were bullish on this stock, a decline of 12% from one quarter earlier. With hedge funds’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were increasing their holdings significantly (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Ken Griffin’s Citadel Investment Group has the most valuable position in Rice Energy Inc (NYSE:RICE), worth close to $183.6 million, amounting to 0.2% of its total 13F portfolio. On Citadel Investment Group’s heels is Millennium Management, led by Israel Englander, holding a $72 million position; 0.1% of its 13F portfolio is allocated to the company. Other professional money managers with similar optimism encompass Ryan Heslop and Ariel Warszawski’s Firefly Value Partners, John Burbank’s Passport Capital, and Steve Cohen’s Point72 Asset Management.

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