Now, some big names have been driving this bullishness. Israel Englander’s Millennium Management initiated the largest position in Xcerra Corp (NASDAQ:XCRA). Millennium Management had $1 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.2 million position during the quarter.
Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Xcerra Corp (NASDAQ:XCRA) but similarly valued. We will take a look at Preferred Apartment Communities Inc. (NYSEAMEX:APTS), Sangamo Biosciences, Inc. (NASDAQ:SGMO), Blue Bird Copr (NASDAQ:BLBD), and Central European Media Enterprises Ltd. (NASDAQ:CETV). This group of stocks’ market caps match XCRA’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 11 hedge funds with bullish positions and the average amount invested in these stocks was $52 million. That figure was $50 million in XCRA’s case. Sangamo Biosciences, Inc. (NASDAQ:SGMO) is the most popular stock in this table. On the other hand Preferred Apartment Communities Inc. (NYSEAMEX:APTS) is the least popular one with only 7 bullish hedge fund positions. Xcerra Corp (NASDAQ:XCRA) 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 SGMO might be a better candidate to consider taking a long position in.