Hedge Funds Are Buying Endeavour Silver Corp (EXK)

Now, some big names have been driving this bullishness. LMR Partners, led by Ben Levine, Andrew Manuel and Stefan Renold, established the biggest position in Endeavour Silver Corp (NYSE:EXK). According to regulatory filings, the fund had $0.2 million invested in the company at the end of the quarter. Michael Platt and William Reeves’s BlueCrest Capital Mgmt. also made a $0.2 million investment in the stock during the quarter. The following funds were also among the new EXK investors: Ken Griffin’s Citadel Investment Group and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to Endeavour Silver Corp (NYSE:EXK). We will take a look at Vitamin Shoppe Inc (NYSE:VSI), Chase Corporation (NYSEAMEX:CCF), NeoGenomics, Inc. (NASDAQ:NEO), and Nantkwest Inc (NASDAQ:NK). This group of stocks’ market valuations are closest to EXK’s market valuation.

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 $62 million. That figure was $47 million in EXK’s case. Vitamin Shoppe Inc (NYSE:VSI) is the most popular stock in this table. On the other hand Nantkwest Inc (NASDAQ:NK) is the least popular one with only 6 bullish hedge fund positions. Endeavour Silver Corp (NYSE:EXK) 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 VSI might be a better candidate to consider taking a long position in.

Disclosure: none.