How Top Traders Are Shifting Western Asst High Incm Opprtnty Fnd Inc. (HIO)

Let’s check out hedge fund activity in other stocks similar to Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO). We will take a look at GP Strategies Corporation (NYSE:GPX), Ciner Resources LP (NYSE:OCIR), First Majestic Silver Corp (NYSE:AG), and Intrawest Resorts Holdings Inc (NYSE:SNOW). This group of stocks’ market caps are similar to Western Asst High Incm Opprtnty Fnd Inc.’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $98 million. That figure was $23 million in Western Asst High Incm Opprtnty Fnd Inc.’s case. Intrawest Resorts Holdings Inc (NYSE:SNOW) is the most popular stock in this table. On the other hand Ciner Resources LP (NYSE:OCIR) is the least popular one with only 4 bullish hedge fund positions. Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO) 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 Intrawest Resorts Holdings Inc might be a better candidate to consider a long position in.