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Rayonier Advanced Materials Inc (NYSE:RYAM) investors should be aware of an increase in support from the world’s most elite money managers recently. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Amarin Corporation plc (ADR) (NASDAQ:AMRN), Curis, Inc. (NASDAQ:CRIS), and CNB Financial Corporation Inc (NASDAQ:CCNE) to gather more data points.
With all of this in mind, let’s analyze the key action regarding Rayonier Advanced Materials Inc (NYSE:RYAM).
Hedge fund activity in Rayonier Advanced Materials Inc (NYSE:RYAM)
At Q3’s end, a total of 20 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 25% from one quarter earlier. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their stakes meaningfully (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Ken Griffin’s Citadel Investment Group has the most valuable position in Rayonier Advanced Materials Inc (NYSE:RYAM), worth close to $6.9 million, corresponding to less than 0.1% of its total 13F portfolio. The second most bullish fund is D E Shaw, with a $5.2 million position; less than 0.1% of its 13F portfolio is allocated to the company. Remaining members of the smart money that are bullish consist of Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management and Glenn Russell Dubin’s Highbridge Capital Management.