What This Metric Says about Invesco Mortgage Capital Inc (IVR)?

Due to the fact that Invesco Mortgage Capital Inc (NYSE:IVR) has witnessed falling interest from the aggregate hedge fund industry, it’s easy to see that there exists a select few hedge funds who sold off their full holdings during the third quarter. Intriguingly, Michael Platt and William Reeves’s BlueCrest Capital Mgmt. cashed in the biggest stake of the “upper crust” of funds tracked by Insider Monkey, worth about $0.2 million in stock. Gavin Saitowitz and Cisco J. del Valle’s fund, Springbok Capital, also said goodbye to its stock, about $0.1 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Invesco Mortgage Capital Inc (NYSE:IVR) but similarly valued. We will take a look at Argo Group International Holdings, Ltd. (NASDAQ:AGII), AZZ Incorporated (NYSE:AZZ), First Majestic Silver Corp (NYSE:AG), and Chemical Financial Corporation (NASDAQ:CHFC). This group of stocks’ market values match IVR’s market value.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $80 million. That figure was $95 million in IVR’s case. First Majestic Silver Corp (NYSE:AG) is the most popular stock in this table. On the other hand AZZ Incorporated (NYSE:AZZ) is the least popular one with only 10 bullish hedge fund positions. Invesco Mortgage Capital Inc (NYSE:IVR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard First Majestic Silver Corp (NYSE:AG) might be a better candidate to consider taking a long position in.

Disclosure: none