Here is What Hedge Funds Think About Brookfield Asset Management Inc (BAM)

Seeing as Brookfield Asset Management Inc (NYSE:BAM) has experienced falling interest from the aggregate hedge fund industry, it’s safe to say that there was a specific group of hedgies that decided to sell off their positions entirely by the end of the third quarter. Intriguingly, Brian Taylor’s Pine River Capital Management said goodbye to the largest investment of the 700 funds watched by Insider Monkey, valued at an estimated $2.2 million in stock. Andre F. Perold’s fund, HighVista Strategies, also dumped its stock, about $1.4 million worth of BAM shares. These transactions are important to note, as total hedge fund interest was cut by 2 funds by the end of the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Brookfield Asset Management Inc (NYSE:BAM). We will take a look at Monster Beverage Corp (NASDAQ:MNST), Capital One Financial Corp. (NYSE:COF), Nokia Corporation (ADR) (NYSE:NOK), and Exelon Corporation (NYSE:EXC). This group of stocks’ market caps are similar to BAM’s market cap.

As you can see these stocks had an average of 30 hedge funds with bullish positions and the average amount invested in these stocks was $1.12 billion. That figure was $1.16 billion in BAM’s case. Capital One Financial Corp. (NYSE:COF) is the most popular stock in this table. On the other hand Nokia Corporation (ADR) (NYSE:NOK) is the least popular one with only 16 bullish hedge fund positions. Brookfield Asset Management Inc (NYSE:BAM) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard COF might be a better candidate to consider a long position.

Disclosure: none.