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Here is What Hedge Funds Think About Diana Shipping Inc. (DSX)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. It’s worth mentioning that Geoffrey Raynor’s Q Investments (Specter Holdings) cut the biggest stake of the 700 funds tracked by Insider Monkey, totaling about $1.2 million in stock. Ken Griffin’s fund, Citadel Investment Group, also said goodbye to its call options, about $0 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Diana Shipping Inc. (NYSE:DSX). We will take a look at USA Technologies, Inc. (NASDAQ:USAT), Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK), Equity BancShares Inc (NASDAQ:EQBK), and MCBC Holdings Inc (NASDAQ:MCFT). This group of stocks’ market values are closest to DSX’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
USAT 8 5585 2
OLBK 3 11925 -1
EQBK 6 33629 0
MCFT 15 99927 3

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $38 million. That figure was $28 million in DSX’s case. MCBC Holdings Inc (NASDAQ:MCFT) is the most popular stock in this table. On the other hand Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) is the least popular one with only 3 bullish hedge fund positions. Diana Shipping Inc. (NYSE:DSX) 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 MCFT might be a better candidate to consider taking a long position in.

Disclosure: None