Hedge Funds Are Betting On Hawaiian Electric Industries, Inc. (HE)

Now, key money managers were breaking ground themselves. Electron Capital Partners initiated the most outsized position in Hawaiian Electric Industries, Inc. (NYSE:HE). Millennium Management also initiated a $3.2 million position during the quarter. The other funds with brand new HE positions are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Paul Tudor Jones’ Tudor Investment Corp, and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Hawaiian Electric Industries, Inc. (NYSE:HE) but similarly valued. We will take a look at Inovalon Holdings Inc (NASDAQ:INOV), Royal Gold, Inc USA) (NASDAQ:RGLD), WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX), and MPLX LP (NYSE:MPLX). All of these stocks’ market caps are similar to HE’s market cap.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $219 million. That figure was just $45 million in HE’s case. Royal Gold, Inc USA) (NASDAQ:RGLD) is the most popular stock in this table. On the other hand Inovalon Holdings Inc (NASDAQ:INOV) is the least popular one with only 6 bullish hedge fund positions. Hawaiian Electric Industries, Inc. (NYSE:HE) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RGLD might be a better candidate to consider a long position.