The government requires hedge funds and wealthy investors with over a certain portfolio size to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings level the playing field for ordinary investors. The latest round of 13F filings discloses the funds’ positions on September 30. We at Insider Monkey have made an extensive database of more than 700 of those elite funds and prominent investors’ filings. In this article, we analyze how these elite funds and prominent investors traded Vectren Corporation (NYSE:VVC) based on those filings.
Vectren Corporation (NYSE:VVC) investors should pay attention to a decrease in hedge fund sentiment recently. 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 Corrections Corp Of America (NYSE:CXW), MarketAxess Holdings Inc. (NASDAQ:MKTX), and Spirit Airlines Incorporated (NASDAQ:SAVE) to gather more data points.
In the eyes of most investors, hedge funds are seen as worthless, old financial tools of years past. While there are greater than 8,000 funds trading at the moment, Our experts hone in on the masters of this club, approximately 700 funds. Most estimates calculate that this group of people manage most of all hedge funds’ total capital, and by tracking their best picks, Insider Monkey has uncovered various investment strategies that have historically outstripped Mr. Market. Insider Monkey’s small-cap hedge fund strategy outstripped the S&P 500 index by 12 percentage points per year for a decade in their back tests.
With all of this in mind, we’re going to view the latest action encompassing Vectren Corporation (NYSE:VVC).
How have hedgies been trading Vectren Corporation (NYSE:VVC)?
Heading into Q4, a total of 10 of the hedge funds tracked by Insider Monkey were long this stock, a change of -23% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Jim Simons’ Renaissance Technologies has the number one position in Vectren Corporation (NYSE:VVC), worth close to $39.7 million, accounting for 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is AQR Capital Management, led by Cliff Asness, holding an $14.3 million position; less than 0.1% of its 13F portfolio is allocated to the company. Some other peers with similar optimism comprise Dmitry Balyasny’s Balyasny Asset Management, D E Shaw and Matthew Tewksbury’s Stevens Capital Management.