Hedge Funds Aren’t Crazy About BCE Inc. (USA) (BCE) Anymore

Seeing as BCE Inc. (USA) (NYSE:BCE) has experienced falling interest from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of hedge funds that elected to cut their positions entirely heading into Q4. Intriguingly, Ray Carroll’s Breton Hill Capital dropped the biggest position of the “upper crust” of funds watched by Insider Monkey, comprising about $6.6 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund dumped about $5.3 million worth. These transactions are interesting, as total hedge fund interest fell by 5 funds heading into Q4.

Let’s also examine hedge fund activity in other stocks similar to BCE Inc. (USA) (NYSE:BCE). These stocks are Yum! Brands, Inc. (NYSE:YUM), Avago Technologies Ltd (NASDAQ:AVGO), Prudential Financial Inc (NYSE:PRU), and General Mills, Inc. (NYSE:GIS). All of these stocks’ market caps match BCE’s market cap.

As you can see these stocks had an average of 49.5 hedge funds with bullish positions and the average amount invested in these stocks was $2,728 million. That figure was $247 million in BCE’s case. Avago Technologies Ltd (NASDAQ:AVGO) is the most popular stock in this table. On the other hand General Mills, Inc. (NYSE:GIS) is the least popular one with only 30 bullish hedge fund positions. Compared to these stocks BCE Inc. (USA) (NYSE:BCE) is even less popular than GIS. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.