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Hedge Funds Are Buying Pure Cycle Corporation (PCYO)

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Skylands Capital, led by Charles Paquelet, assembled the largest position in Pure Cycle Corporation (NASDAQ:PCYO). According to its latest 13F filing, the fund had $1.5 million invested in the company at the end of the quarter. Renaissance Technologies, one of the largest hedge funds in the world, also initiated a $0.2 million position during the quarter.

Let’s also examine hedge fund activity in other stocks similar to Pure Cycle Corporation (NASDAQ:PCYO). These stocks are Points International Ltd (USA) (NASDAQ:PCOM), Ampco-Pittsburgh Corp. (NYSE:AP), TrovaGene Inc (NASDAQ:TROV), and Chemung Financial Corp. (NASDAQ:CHMG). This group of stocks’ market caps match PCYO’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PCOM 5 17456 -1
AP 4 24192 -1
TROV 4 15808 -1
CHMG 3 2925 0

As you can see these stocks had an average of 4 hedge funds with bullish positions and the average amount invested in these stocks was $15 million. That figure was $55 million in PCYO’s case. Points International Ltd (USA) (NASDAQ:PCOM) is the most popular stock in this table. On the other hand Chemung Financial Corp. (NASDAQ:CHMG) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Pure Cycle Corporation (NASDAQ:PCYO) 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.

Disclosure: none.