Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Made A Bundle On RIMM Today

Research in Motion Limited (RIMM) swelled amongst rumors that Vodafone Group Plc (VOD) may attempt to buy the BlackBerry manufacturer. The stock rose 12.33% on Wednesday, October 5, 2011, from a closing price of around $21 at end of day on Tuesday, October 4 to a close of $23.81 on October 5. The stock peaked at $24.34, sometime around high noon. RIMM had fallen to $20.30 a share at the end of September.


Some analysts say that Vodafone would be a poor fit for RIMM, citing instead the lackluster debut of the Apple iPhone 4S. Whatever the case, there are several hedge funds that made a bundle on RIMM today:

Jim Simons – Renaissance Technologies: Gained $7 million

Brett Barakett – Tremblant Capital: Gained $5.25 million

Jonathon Jacobson – Highfields Capital Management: Gained $4 million

Ken Griffin – Citadel Investment Group: Gained $3.3 million

John Kleinheinz – Kleinheinz Capital Partners: Gained $2.7 million

These calculations assume that these hedge funds did not increase or reduce their stock positions in RIMM since the end of June. We did not take into account their option positions.