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Is Ixia (XXIA) Going to Burn These Hedge Funds?

Consequently, specific money managers have jumped into Ixia (NASDAQ:XXIA) headfirst. Carlson Capital assembled the biggest position in Ixia (NASDAQ:XXIA). Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $1.3 million investment in the stock during the quarter. The other funds with brand new XXIA positions are Matthew Tewksbury’s Stevens Capital Management and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Ixia (NASDAQ:XXIA). These stocks are Scientific Games Corp (NASDAQ:SGMS), Trueblue Inc (NYSE:TBI), The Spectranetics Corporation (NASDAQ:SPNC), and Sun Hydraulics Corporation (NASDAQ:SNHY). This group of stocks’ market caps match XXIA’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SGMS 24 352721 3
TBI 11 120067 -4
SPNC 25 160116 7
SNHY 5 95714 -2

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $182 million. That figure was $90 million in XXIA’s case. The Spectranetics Corporation (NASDAQ:SPNC) is the most popular stock in this table. On the other hand Sun Hydraulics Corporation (NASDAQ:SNHY) is the least popular one with only 5 bullish hedge fund positions. Ixia (NASDAQ:XXIA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SPNC might be a better candidate to consider taking a long position in.

Disclosure: None

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