AG Mortgage Investment Trust Inc (NYSE:MITT) was in 9 hedge funds’ portfolio at the end of March. MITT shareholders have witnessed a decrease in enthusiasm from smart money recently. There were 12 hedge funds in our database with MITT positions at the end of the previous quarter.
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With these “truths” under our belt, let’s take a peek at the latest action surrounding AG Mortgage Investment Trust Inc (NYSE:MITT).
What does the smart money think about AG Mortgage Investment Trust Inc (NYSE:MITT)?
At Q1’s end, a total of 9 of the hedge funds we track were long in this stock, a change of -25% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were upping their holdings meaningfully.
According to our comprehensive database, John M. Angelo and Michael L. Gordon’s Angelo Gordon & Co had the most valuable position in AG Mortgage Investment Trust Inc (NYSE:MITT), worth close to $10.2 million, accounting for 0.7% of its total 13F portfolio. Coming in second is Jim Simons of Renaissance Technologies, with a $6.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Leon Cooperman’s Omega Advisors, Malcolm Fairbairn’s Ascend Capital and Israel Englander’s Millennium Management.
Seeing as AG Mortgage Investment Trust Inc (NYSE:MITT) has faced falling interest from the entirety of the hedge funds we track, it’s safe to say that there was a specific group of hedgies who sold off their entire stakes in Q1. Interestingly, Ken Griffin’s Citadel Investment Group said goodbye to the biggest stake of all the hedgies we key on, valued at about $3.5 million in stock.. Bruce Kovner’s fund, Caxton Associates LP, also cut its stock, about $2.3 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest was cut by 3 funds in Q1.
Insider trading activity in AG Mortgage Investment Trust Inc (NYSE:MITT)
Bullish insider trading is particularly usable when the company we’re looking at has experienced transactions within the past half-year. Over the latest 180-day time period, AG Mortgage Investment Trust Inc (NYSE:MITT) has experienced zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to AG Mortgage Investment Trust Inc (NYSE:MITT). These stocks are Crexus Investment Corp (NYSE:CXS), iStar Financial Inc. (NYSE:SFI), Anworth Mortgage Asset Corporation (NYSE:ANH), Apollo Commercial Real Est. Finance Inc (NYSE:ARI), and Excel Trust Inc (NYSE:EXL). This group of stocks are the members of the reit – diversified industry and their market caps match MITT’s market cap.