Hedge Funds Are Dumping Invesco Ltd. (IVZ)

Due to the fact that Invesco Ltd. (NYSE:IVZ) has faced declining sentiment from the aggregate hedge fund industry, we can see that there exists a select few money managers that slashed their positions entirely by the end of the third quarter. Intriguingly, John Brennan’s Sirios Capital Management said goodbye to the biggest stake of the “upper crust” of funds monitored by Insider Monkey, worth close to $35.4 million in stock. Israel Englander’s fund, Millennium Management, also dumped its stock, about $8.3 million worth. These transactions are interesting, as total hedge fund interest dropped by 7 funds by the end of the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Invesco Ltd. (NYSE:IVZ). We will take a look at Vanguard Short Term Corporate Bond ETF (NASDAQ:VCSH), Mattel, Inc. (NASDAQ:MAT), NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), and C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW). This group of stocks’ market values match IVZ’s market value.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $350 million. That figure was $397 million in IVZ’s case. Mattel, Inc. (NASDAQ:MAT) is the most popular stock in this table. On the other hand Vanguard Short Term Corporate Bond ETF (NASDAQ:VCSH) is the least popular one with only 6 bullish hedge fund positions. Invesco Ltd. (NYSE:IVZ) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MAT might be a better candidate to consider a long position in.

Disclosure: None