Rockwell Medical Inc (RMTI)Hedge Funds Are Snapping Up

Now, key hedge funds were leading the bulls’ herd. Ellington, managed by Mike Vranos, assembled the most outsized position in Rockwell Medical Inc (NASDAQ:RMTI). Ellington had $0.3 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made an $0.2 million investment in the stock during the quarter. The following funds were also among the new RMTI investors: Cliff Asness’s AQR Capital Management and David Costen Haley’s HBK Investments.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Rockwell Medical Inc (NASDAQ:RMTI) but similarly valued. These stocks are Coeur d’Alene Mines Corporation (NYSE:CDE), Blue Nile Inc (NASDAQ:NILE), Easterly Government Properties Inc (NYSE:DEA), and Middlesex Water Company (NASDAQ:MSEX). This group of stocks’ market values are similar to RMTI’s market value.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $33 million. That figure was $12 million in RMTI’s case. Coeur d’Alene Mines Corporation (NYSE:CDE) is the most popular stock in this table. On the other hand, Easterly Government Properties Inc (NYSE:DEA) is the least popular one with only 7 bullish hedge fund positions. Event though Rockwell Medical Inc (NASDAQ:RMTI) is not the least popular stock in this group, hedge fund interest is still below average. This is may imply it is not a good stock to buy; therefore, we’d rather spend our time researching stocks that hedge funds are piling on. In this case, CDE might be a better candidate to consider a long position.