Hedge Funds Were Buying Clearfield, Inc. (CLFD) On The Dip

As industrywide interest jumped, some big names were leading the bulls’ herd. Citadel Investment Group assembled the most outsized position in Clearfield, Inc. (NASDAQ:CLFD). Citadel Investment Group had $0.2 million invested in shares of the company underlying call options. John Overdeck and David Siegel’s Two Sigma Advisors also made a $0.2 million investment in the stock during the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Clearfield, Inc. (NASDAQ:CLFD). These stocks are Old Second Bancorp Inc. (NASDAQ:OSBC), Affimed NV (NASDAQ:AFMD), Stonegate Mortageg Corp (NYSE:SGM), and Journal Media Group Inc (NYSE:JMG). All of these stocks’ market caps are similar to CLFD’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $43 million. That figure was $10 million in CLFD’s case. Journal Media Group Inc (NYSE:JMG) is the most popular stock in this table. On the other hand Old Second Bancorp Inc. (NASDAQ:OSBC) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Clearfield, Inc. (NASDAQ:CLFD) is only as popular as OSBC, and has less capital invested in it. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t firmly behind this stock yet, though its interest is growing.