Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

City Office REIT Inc (CIO)Hedge Funds Are Snapping Up

Consequently, some big names were leading the bulls’ herd. Nine Chapters Capital Management, managed by Chao Ku, established a position in City Office REIT Inc (NYSE:CIO). Nine Chapters Capital Management had $0.2 million invested in the company at the end of the quarter.

Let’s now review hedge fund activity in other stocks similar to City Office REIT Inc (NYSE:CIO). These stocks are Basic Energy Services, Inc (NYSE:BAS), Republic First Bancorp, Inc. (NASDAQ:FRBK), Nordic American Offshore Ltd (NYSE:NAO), and QLT Inc. (USA) (NASDAQ:QLTI). This group of stocks’ market values match CIO’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BAS 10 32726 -5
FRBK 5 17072 -1
NAO 5 35678 0
QLTI 19 59657 -2

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $36 million. That figure was $7 million in CIO’s case. The least popular stocks in this table are Republic First Bancorp, Inc. (NASDAQ:FRBK), and Nordic American Offshore Ltd (NYSE:NAO), while the most popular one is QLT Inc. (USA) (NASDAQ:QLTI). Compared to these stocks City Office REIT Inc (NYSE:CIO) has the same number of bullish hedge fund positions as the least popular stocks in this group. This may indicate that smart money isn’t behind this stock, and to understand why is that, further research is necessary. It is possible that investors thought that the stock is overvalued because they weren’t considering the bullish thesis. In either case, more detailed analyzes are advisable.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.