With a general bullishness amongst the heavyweights, key hedge funds have been driving this bullishness. Fisher Asset Management, managed by Ken Fisher, assembled the largest position in Wilshire Bancorp Inc (NASDAQ:WIBC). Fisher Asset Management had $2.4 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $1.5 million investment in the stock during the quarter. The following funds were also among the new WIBC investors: Paul Tudor Jones’ Tudor Investment Corp and Matthew Tewksbury’s Stevens Capital Management.
Let’s go over hedge fund activity in other stocks similar to Wilshire Bancorp Inc (NASDAQ:WIBC). We will take a look at National CineMedia, Inc. (NASDAQ:NCMI), Acceleron Pharma Inc (NASDAQ:XLRN), Chatham Lodging Trust (NYSE:CLDT), and Golub Capital BDC Inc (NASDAQ:GBDC). This group of stocks’ market caps resemble WIBC’s market cap.
|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 14 hedge funds with bullish positions and the average amount invested in these stocks was $87 million, compared to $44 million in WIBC’s case. National CineMedia, Inc. (NASDAQ:NCMI) is the most popular stock in this table. On the other hand Golub Capital BDC Inc (NASDAQ:GBDC) is the least popular one with only 7 bullish hedge fund positions. Wilshire Bancorp Inc (NASDAQ:WIBC) 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 NCMI might be a better candidate to consider a long position.