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|
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.