Here is What Hedge Funds Think About Broadcom Limited (AVGO)

Let’s now review hedge fund activity in other stocks similar to Broadcom Limited (NASDAQ:AVGO). These stocks are PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), Delta Air Lines, Inc. (NYSE:DAL), Caterpillar Inc. (NYSE:CAT), and ABB Ltd (ADR) (NYSE:ABB). This group of stocks’ market caps match AVGO’s market cap.

As you can see these stocks had an average of 42.75 hedge funds with bullish positions and the average amount invested in these stocks was $2.58 billion. That figure was $7.26 billion in AVGO’s case. Delta Air Lines, Inc. (NYSE:DAL) is the most popular stock in this table. On the other hand ABB Ltd (ADR) (NYSE:ABB) is the least popular one with only 11 bullish hedge fund positions. Broadcom Limited (NASDAQ:AVGO) 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 DAL might be a better candidate to consider a long position.

Disclosure: None