How Hedge Funds Traded Chase Corporation (CCF) in Q3 (Hint: They Didn’t)

Earlier we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren’t any hedge funds dumping their holdings during the third quarter, there weren’t any hedge funds initiating brand new positions either. This indicates that hedge funds, at the very best, perceive this stock as dead money and haven’t identified any viable catalysts to attract their attention.

Let’s go over hedge fund activity in other stocks similar to Chase Corporation (NYSEMKT:CCF). These stocks are BlackRock Debt Strategies Fund, Inc. (NYSE:DSU), TRC Companies, Inc. (NYSE:TRR), MarineMax, Inc. (NYSE:HZO), and Caretrus REIT Inc (NASDAQ:CTRE). All of these stocks’ market caps match CCF’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $45 million. That figure was $36 million in CCF’s case. MarineMax, Inc. (NYSE:HZO) is the most popular stock in this table. On the other hand BlackRock Debt Strategies Fund, Inc. (NYSE:DSU) is the least popular one with only 5 bullish hedge fund positions. Chase Corporation (NYSEMKT:CCF) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HZO might be a better candidate to consider a long position in.