Consequently, key money managers were leading the bulls’ herd. Alpine Associates created the most valuable position in Sunedison Semiconductor Ltd (NASDAQ:SEMI). The other funds with new positions in the stock are Paul Glazer’s Glazer Capital, and Nancy Havens-Hasty’s Havens Advisors.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Sunedison Semiconductor Ltd (NASDAQ:SEMI) but similarly valued. We will take a look at MYR Group Inc (NASDAQ:MYRG), El Pollo LoCo Holdings Inc (NASDAQ:LOCO), WMIH Corp (OTCMKTS:WMIH), and Lion Biotechnologies Inc (NASDAQ:LBIO). This group of stocks’ market caps are similar to SEMI’s market cap.
|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 18 hedge funds with bullish positions and the average amount invested in these stocks was $86 million. That figure was $151 million in SEMI’s case. WMIH Corp (OTCMKTS:WMIH) is the most popular stock in this table. On the other hand El Pollo LoCo Holdings Inc (NASDAQ:LOCO) is the least popular one with only 8 bullish hedge fund positions. Sunedison Semiconductor Ltd (NASDAQ:SEMI) 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 WMIH might be a better candidate to consider taking a long position in.