As aggregate interest increased, key hedge funds were leading the bulls’ herd. JANA Partners, led by Barry Rosenstein, created the most outsized position in Dell Technologies Inc (NYSE:DVMT). According to its latest 13F filing, the fund had $144 million invested in the company at the end of the quarter. Scott Ferguson’s Sachem Head Capital also made a $112 million investment in the stock during the quarter.
Let’s now take a look at hedge fund activity in other stocks similar to Dell Technologies Inc (NYSE:DVMT). We will take a look at Annaly Capital Management, Inc. (NYSE:NLY), Restaurant Brands International Inc (NYSE:QSR), Discovery Communications Inc. (NASDAQ:DISCK), and SCANA Corporation (NYSE:SCG). This group of stocks’ market valuations are closest to DVMT’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $949 million. That figure was an impressive $3.59 billion in DVMT’s case. Restaurant Brands International Inc (NYSE:QSR) is the most popular stock in this table. On the other hand Annaly Capital Management, Inc. (NYSE:NLY) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Dell Technologies Inc (NYSE:DVMT) 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.