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Hedge Funds Are Buying DISH Network Corp. (DISH)

Now, specific money managers were leading the bulls’ herd. Ascend Capital, managed by Malcolm Fairbairn, assembled the biggest position in DISH Network Corp. (NASDAQ:DISH). Ascend Capital had $39.9 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $11 million investment in the stock during the quarter. The other funds with new positions in the stock are Solomon Kumin’s Folger Hill Asset Management, Ken Griffin’s Citadel Investment Group, and Tom Wagner and Ara Cohen’s Knighthead Capital.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as DISH Network Corp. (NASDAQ:DISH) but similarly valued. We will take a look at VMware, Inc. (NYSE:VMW), The Hershey Company (NYSE:HSY), Fiserv, Inc. (NASDAQ:FISV), and Fidelity National Information Services (NYSE:FIS). This group of stocks’ market valuations match DISH’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
VMW 43 1797988 2
HSY 34 714396 6
FISV 27 365694 1
FIS 49 2869657 2

As you can see these stocks had an average of 38 hedge funds with bullish positions and the average amount invested in these stocks was $1.44 billion. That figure was $2,96 billion in DISH’s case. Fidelity National Information Services (NYSE:FIS) is the most popular stock in this table. On the other hand Fiserv, Inc. (NASDAQ:FISV) is the least popular one with only 27 bullish hedge fund positions. Compared to these stocks DISH Network Corp. (NASDAQ:DISH) 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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