Here’s What This Metric Says about Flotek Industries Inc (FTK)

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Folger Hill Asset Management created the most valuable position in Flotek Industries Inc (NYSE:FTK) which had $5.1 million invested in the company at the end of the quarter. Andy Redleaf’s Whitebox Advisors also initiated a $3.5 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Till Bechtolsheimer’s Arosa Capital Management, and Robert Vollero and Gentry T. Beach’s Vollero Beach Capital Partners.

Let’s now take a look at hedge fund activity in other stocks similar to Flotek Industries Inc (NYSE:FTK). We will take a look at National Western Life Insurance Company (NASDAQ:NWLI), Re/Max Holdings Inc (NYSE:RMAX), Fifth Street Finance Corp. (NASDAQ:FSC), and Middlesex Water Company (NASDAQ:MSEX). This group of stocks’ market caps are closest to FTK’s market cap.

As you can see these stocks had an average of seven funds with bullish positions and the average amount invested in these stocks was $21 million, which is lower than the $168 million figure in FTK’s case. Fifth Street Finance Corp. (NASDAQ:FSC) is the most popular stock in this table. On the other hand Re/Max Holdings Inc (NYSE:RMAX) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Flotek Industries Inc (NYSE:FTK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None