Are Hedge Funds Fond of JPMorgan Chase & Co. (JPM)?

Because JPMorgan Chase & Co. (NYSE:JPM) has faced falling interest from hedge fund managers, we can see that there lies a certain “tier” of funds who sold off their entire stakes in the third quarter. At the top of the heap, Daniel S. Och’s OZ Management dropped the largest stake of the 700 funds watched by Insider Monkey, totaling about $284.4 million in stock. On the other hand, Adam Peterson’s Magnolia Capital Fund initiated a stake worth $8.50 million at the end of 2015.

Let’s now review hedge fund activity in other stocks similar to JPMorgan Chase & Co. (NYSE:JPM). These stocks are China Mobile Ltd. (ADR) (NYSE:CHL), The Procter & Gamble Company (NYSE:PG), AT&T Inc. (NYSE:T), and Toyota Motor Corporation (ADR) (NYSE:TM). All of these stocks’ market caps match JPM’s market cap.

As you can see these stocks had an average of 34 hedge funds with bullish positions and the average amount invested in these stocks was $3.15 billion. That figure was $7.58 billion in JPM’s case. The Procter & Gamble Company (NYSE:PG) is the most popular stock in this table, while Toyota Motor Corporation (ADR) (NYSE:TM) is the least popular one with only 13 hedge funds holding long positions. Compared to these stocks JPMorgan Chase & Co. (NYSE:JPM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.