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Tesla, GoPro, KCG Holdings, and More: Here’s Why These Five Stocks Are Trending Today

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It’s another quiet day on Wall Street as all three major index futures are modestly in the green. In addition, crude futures are up 0.9%.

In this article, let’s find out why the spotlight is shining on Macy’s Inc (NYSE:M), Tesla Inc (NASDAQ:TSLA), GoPro Inc (NASDAQ:GPRO), KCG Holdings, Inc. Class A (NYSE:KCG), and Virtu Financial Inc (NASDAQ:VIRT), each of which are trending for various reasons. Let’s also use the latest SEC 13F filing data to determine smart money sentiment toward the stocks.

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Tesla Motors Inc (NASDAQ:TSLA), Car, Model S, Sign, Showroom, Brand, Logo, automotive, sales

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Traders are keeping a close eye on Macy’s Inc (NYSE:M) after Reuters reported that Jeffery Smith‘s Starboard Value has divested its stake in the retailer. Starboard, which owned around 3 million shares at the end of December, previously pushed management Macy’s to separate its valuable real estate from its retail segment. Although Macy’s has made some modest moves in that regard, the company hasn’t separated its most valuable properties. Starboard’s retreat will likely give Macy’s management more flexibility to enact a turnaround. Of the 742 elite funds we track, 51 funds owned $875.94 million of Macy’s Inc (NYSE:M) and accounted for 8.00% of the float on December 31, versus 63 funds and $1.34 billion respectively on September 30.

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Tesla Inc (NASDAQ:TSLA) is trending after the company announced a new capital raise in the form of $750 million in aggregate principal of convertible senior notes and $250 million of common equity. Elon Musk’s company has also given underwriters an option to buy an additional 15% if needed for both offerings. Tesla intends to use the money raised for general corporate purposes, the de-risking of its ambitious production ramp-up program, and to deleverage. 38 top funds had a bullish position in Tesla Inc (NASDAQ:TSLA) at the end of December, up 4 funds from the previous quarter.

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On the next page, we find out why the spotlight is shining on GoPro Inc, KCG Holdings Inc Class A, and Virtu Financial Inc.

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