Twitter Inc (TWTR) Up By 5.99% Today On More Tenuous Buyout Rumors; Fool Me Once…

What have hedge funds been doing with Twitter Inc (NYSE:TWTR)?

At the end of the first quarter, a total of 64 of the hedge funds tracked by Insider Monkey were bullish in this stock, a change of 52% from one quarter earlier. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were boosting their holdings considerably.

According to hedge fund intelligence website Insider Monkey, John Thaler‘s JAT Capital Management had the largest position in Twitter Inc (NYSE:TWTR), with 7.62 million shares worth close to $363.7 million, amounting to 9.8% of its total 13F portfolio. The second-largest stake is held by OZ Management, managed by Daniel S. Och, which held a $225.5 million position of 4.50 million shares. Other hedgies that hold long positions consist of Daniel Benton’s Andor Capital Management, Jim Simons’ Renaissance Technologies, and David E. Shaw’s D E Shaw.

As aggregate interest increased, key money managers were leading the bulls’ herd. OZ Management initiated the biggest position in Twitter Inc (NYSE:TWTR), initiating the $225.5 million mentioned above. Renaissance Technologies also initiated a large position valued at $131.4 million during the quarter. The other funds with new positions in the stock are Peter Muller’s PDT Partners, Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital, and Nick Niell’s Arrowgrass Capital Partners.

Keeping in mind that Twitter Inc (NYSE:TWTR) corrected after the same rumors had appeared two weeks ago, and taking into account that the rumors come from a relatively unheralded website that does not have a reputation for breaking news stories, we would recommend investors stay away from the current hubbub surrounding Twitter’s shares.

Disclosure: None