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Here’s Why Traders Are Watching Twitter, Bank of America, Wells Fargo, and More

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The latest weekly EIA petroleum numbers are out and U.S. commercial crude inventories inched lower by 0.2 million barrels from the previous week. Meanwhile total commercial petroleum inventories decreased 7.8 million barrels. Given last week’s report, many traders feel today’s data are more supportive of crude prices.

Among the stocks that traders are keenly watching include a shipper, a tech company, and three banks. In this article, let’s take a closer look at Navios Maritime Partners L.P. (NYSE:NMM), Twitter Inc (NYSE:TWTR), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), and Deutsche Bank AG (USA) (NYSE:DB) and analyze hedge fund sentiment toward the five.  

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

Jonathan Weiss/Shutterstock.com

Jonathan Weiss/Shutterstock.com

Navios Maritime Partners L.P. (NYSE:NMM) shares have fallen 12% after the company priced a $100 million registered direct offering at exactly $2.1 per common unit. Navios Maritime will use the proceeds raised for potential vessel acquisitions and for general working capital purposes. 4 top funds had a bullish position in Navios Maritime Partners L.P. (NYSE:NMM) at the end of the fourth quarter, up 2 funds from the previous quarter. That’s out of around 742 elite funds in our database.

Follow Navios Maritime Partners L P (NYSE:NMM)
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Twitter Inc (NYSE:TWTR) is 2% in the red after several prominent Twitter accounts, including those of BBC North America, the European Parliament, and UNICEF USA were hacked to promote Nazism. Many of the hacked posts were written in Turkish. Sentiment around the tech company has also been hurt due to the news that famed tech investor Chris Sacca no longer owns any shares of Twitter. According to Sacca, ‘when they failed to get Ev involved again, I lost hope. Love the service, hate the stock’. 41 elite funds were long Twitter Inc (NYSE:TWTR) as of the most recent 13-F reporting period, down 6 funds from the previous quarter.

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On the next page, we find out why traders are keenly watching Bank of America Corp, Wells Fargo & Co, and Deutsche Bank AG (USA).

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