Is Uranium Energy Corp. (UEC), New Russell 3000 Index Member, A Good Stock To Buy?

Hedge fund activity in Uranium Energy Corp. (NYSEAMEX:UEC)

At the end of the initial quarter of 2015, a total of five of the hedge funds tracked by Insider Monkey were long in this stock, unchanged from the previous quarter.

When looking at the hedgies followed by Insider Monkey, Michael Hintze‘s CQS Cayman LP had the biggest position in Uranium Energy Corp. (NYSEMKT:UEC), worth close to $1.1 million, accounting for 0.1% of its total 13F portfolio. Coming in second is Ken Griffin of Citadel Investment Group, with a $100,000 position, a miniscule amount in its giant 13F portfolio. Some other hedge funds that hold long positions include Israel Englander’s Millennium Management, and D. E Shaw’s D.E. Shaw.

It should also be noted that the total value of holdings in Uranium Energy Corp. among the hedge funds Insider Monkey tracks decreased from about $2.08 million in the final quarter of 2014 to about $1.28 million in the first quarter of this year. That is a significant decrease in hedge fund holdings of about 40%, which far outstrips the 10% dip in share prices during the first quarter. Because of this, even considering numerous bullish insider purchases in the company, we would not recommend buying into Uranium Energy Corp. (NYSEMKT:UEC) at this time.

Disclosure: None