Veeco Instruments Inc. (NASDAQ:VECO) has experienced a decrease in enthusiasm from smart money lately.
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With these "truths" under our belt, let's take a gander at the key action regarding Veeco Instruments Inc. (NASDAQ:VECO).
In preparation for this year, a total of 15 of the hedge funds we track were long in this stock, a change of -6% from the previous quarter. With hedge funds' sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their holdings significantly.
When looking at the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the biggest position in Veeco Instruments Inc. (NASDAQ:VECO). Royce & Associates has a $110 million position in the stock, comprising 0.4% of its 13F portfolio. The second largest stake is held by Ken Fisher of Fisher Asset Management, with a $65 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include Peter Rathjens, Bruce Clarke and John Campbell's Arrowstreet Capital, Robert Karr's Joho Capital and Joel Greenblatt's Gotham Asset Management.
Because Veeco Instruments Inc. (NASDAQ:VECO) has faced falling interest from the smart money, we can see that there exists a select few money managers that slashed their positions entirely at the end of the year. Interestingly, Robert Rodriguez and Steven Romick's First Pacific Advisors LLC sold off the largest position of the "upper crust" of funds we watch, totaling an estimated $21 million in stock., and John Kleinheinz of Kleinheinz Capital Partners was right behind this move, as the fund sold off about $19 million worth. These moves are interesting, as total hedge fund interest dropped by 1 funds at the end of the year.
Insider buying is at its handiest when the company we're looking at has seen transactions within the past 180 days. Over the latest half-year time frame, Veeco Instruments Inc. (NASDAQ:VECO) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the results shown by Insider Monkey's tactics, retail investors must always pay attention to hedge fund and insider trading activity, and Veeco Instruments Inc. (NASDAQ:VECO) applies perfectly to this mantra.
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