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Diana Containerships Inc (DCIX): Are Hedge Funds Right About This Stock?

Because Diana Containerships Inc (NASDAQ:DCIX) has experienced falling interest from the entirety of the hedge funds we track, we can see that there were a few hedgies that elected to cut their positions entirely by the end of the third quarter. At the top of the heap, Israel Englander’s Millennium Management dropped the biggest stake of all the hedgies tracked by Insider Monkey, totaling about $0.1 million in stock. Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s fund, GRT Capital Partners, also dropped its stock, about $0.1 million worth. These transactions are important to note, as aggregate hedge fund interest was cut by 3 funds by the end of the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Diana Containerships Inc (NASDAQ:DCIX) but similarly valued. We will take a look at Comstock Resources Inc (NYSE:CRK), PRGX Global Inc (NASDAQ:PRGX), Camtek LTD. (NASDAQ:CAMT), and Frequency Electronics, Inc. (NASDAQ:FEIM). This group of stocks’ market values match DCIX’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CRK 7 3793 -2
PRGX 13 22555 -1
CAMT 4 4522 1
FEIM 5 5854 -1

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $26 million in DCIX’s case. PRGX Global Inc (NASDAQ:PRGX) is the most popular stock in this table, while the least popular one is hand Camtek LTD. (NASDAQ:CAMT). With 4 bullish hedge fund points, Diana Containerships Inc (NASDAQ:DCIX) has the same popularity as the least popular stock in this table – CAMT. This indicates that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article. To comprehend why the smart money isn’t behind this stock, more detailed analysis is needed. This doesn’t necessarily mean that this stock isn’t worth considering, as it is possible that investors thought of it as overvalued because they weren’t considering the bullish thesis. In any case, further research is advisable.

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