II-VI, Inc. (NASDAQ:IIVI) investors should be aware of an increase in activity from the world’s largest hedge funds of late.
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With all of this in mind, we’re going to take a glance at the latest action surrounding II-VI, Inc. (NASDAQ:IIVI).
How have hedgies been trading II-VI, Inc. (NASDAQ:IIVI)?
At the end of the fourth quarter, a total of 10 of the hedge funds we track were long in this stock, a change of 150% from the previous quarter. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were boosting their stakes significantly.
According to our comprehensive database, Invicta Capital Management, managed by Gregory A. Weaver, holds the biggest position in II-VI, Inc. (NASDAQ:IIVI). Invicta Capital Management has a $11 million position in the stock, comprising 4.8% of its 13F portfolio. On Invicta Capital Management’s heels is Ken Griffin of Citadel Investment Group, with a $2 million position; the fund has 0% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Israel Englander’s Millennium Management, Jim Simons’s Renaissance Technologies and Joel Greenblatt’s Gotham Asset Management.
As industrywide interest jumped, some big names have jumped into II-VI, Inc. (NASDAQ:IIVI) headfirst. Millennium Management, managed by Israel Englander, established the largest position in II-VI, Inc. (NASDAQ:IIVI). Millennium Management had 1 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $1 million investment in the stock during the quarter. The other funds with brand new IIVI positions are Joel Greenblatt’s Gotham Asset Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Ken Gray and Steve Walsh’s Bryn Mawr Capital.
What have insiders been doing with II-VI, Inc. (NASDAQ:IIVI)?
Insider trading activity, especially when it’s bullish, is particularly usable when the company in focus has experienced transactions within the past 180 days. Over the latest half-year time period, II-VI, Inc. (NASDAQ:IIVI) has experienced zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to II-VI, Inc. (NASDAQ:IIVI). These stocks are MTS Systems Corporation (NASDAQ:MTSC), Analogic Corporation (NASDAQ:ALOG), Cubic Corporation (NYSE:CUB), ESCO Technologies Inc. (NYSE:ESE), and Ion Geophysical Corp (NYSE:IO). This group of stocks are the members of the scientific & technical instruments industry and their market caps are closest to IIVI’s market cap.