Hedge Funds Are Betting On Brocade Communications Systems, Inc. (BRCD)

As one would reasonably expect, specific money managers have been driving this bullishness. Alyeska Investment Group, initiated the largest position in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Alyeska Investment Group had $40 million invested in the company at the end of the quarter. Daniel S. Och’s OZ Management also initiated an $11 million position during the quarter. The other funds with brand new BRCD positions are Israel Englander’s Millennium Management, OZ Management, and Leon Shaulov’s Maplelane Capital.

Let’s also examine hedge fund activity in other stocks similar to Brocade Communications Systems, Inc. (NASDAQ:BRCD). We will take a look at Healthcare Realty Trust Inc (NYSE:HR), Cognex Corporation (NASDAQ:CGNX), ON Semiconductor Corp (NASDAQ:ON), and Equity Commonwealth (NYSE:EQC). This group of stocks’ market values are similar to BRCD’s market value.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $308 million. That figure was $368 million in BRCD’s case. Equity Commonwealth (NYSE:EQC) is the most popular stock in this table. On the other hand Healthcare Realty Trust Inc (NYSE:HR) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Brocade Communications Systems, Inc. (NASDAQ:BRCD) 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.

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