Hedge Funds Are Piling Back Into Trina Solar Limited (ADR) (TSL)

As industry-wide interest jumped, key hedge funds have jumped into Trina Solar Limited (ADR) (NYSE:TSL) headfirst. Alpine Associates created the largest position in Trina Solar Limited (ADR) (NYSE:TSL). Alpine Associates had $29.1 million invested in the company at the end of the quarter. Nick Niell’s Arrowgrass Capital Partners also initiated a $13.8 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Steve Cohen’s Point72 Asset Management, and Dmitry Balyasny’s Balyasny Asset Management.

Let’s check out hedge fund activity in other stocks similar to Trina Solar Limited (ADR) (NYSE:TSL). These stocks are Eldorado Resorts Inc (NASDAQ:ERI), The Gorman-Rupp Company (NYSEAMEX:GRC), PHH Corporation (NYSE:PHH), and Cardinal Financial Corporation (NASDAQ:CFNL). All of these stocks’ market caps match TSL’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ERI 22 207294 0
GRC 5 35062 -1
PHH 20 271332 3
CFNL 11 70084 2

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $146 million. That figure was $207 million in TSL’s case. Eldorado Resorts Inc (NASDAQ:ERI) is the most popular stock in this table. On the other hand The Gorman-Rupp Company (NYSEAMEX:GRC) is the least popular one with only 5 bullish hedge fund positions. Trina Solar Limited (ADR) (NYSE:TSL) 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 ERI might be a better candidate to consider taking a long position in, though TSL is one to watch with its rising smart money ownership.

Disclosure: None