As one would reasonably expect, key hedge funds have jumped into BOK Financial Corporation (NASDAQ:BOKF) headfirst. Folger Hill Asset Management assembled the most outsized position in BOK Financial Corporation (NASDAQ:BOKF). Folger Hill Asset Management had $2.4 million invested in the company at the end of the quarter. Russell Hawkins’s Hawkins Capital also initiated a small position during the quarter.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as BOK Financial Corporation (NASDAQ:BOKF) but similarly valued. We will take a look at Calpine Corporation (NYSE:CPN), SYNNEX Corporation (NYSE:SNX), Williams-Sonoma, Inc. (NYSE:WSM), and Vermilion Energy Inc (NYSE:VET). This group of stocks’ market valuations match BOKF’s market valuation.
|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 19.5 hedge funds with bullish positions and the average amount invested in these stocks was $358 million. That figure was $130 million in BOKF’s case. Calpine Corporation (NYSE:CPN) is the most popular stock in this table. On the other hand Vermilion Energy Inc (NYSE:VET) is the least popular one with only 8 bullish hedge fund positions. BOK Financial Corporation (NASDAQ:BOKF) 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 CPN might be a better candidate to consider taking a long position in.