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Javelin Mortgage Investment Corp (JMI): Hedge Fund Sentiment Unchanged

On the other hand, there lies a certain “tier” of fund managers that slashed their positions in Javelin Mortgage Investment Corp (NYSE:JMI) entirely in the third quarter. Interestingly, Israel Englander’s Millennium Management dropped the largest investment of the “upper crust” of funds tracked by Insider Monkey, worth close to $0.1 million in call options.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Javelin Mortgage Investment Corp (NYSE:JMI) but similarly valued. These stocks are MeetMe Inc (NASDAQ:MEET), Hansen Medical, Inc. (NASDAQ:HNSN), Perceptron, Inc. (NASDAQ:PRCP), and Northern Technologies International Corp (NASDAQ:NTIC). All of these stocks’ market caps match JMI’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MEET 4 10132 -3
HNSN 4 15439 1
PRCP 6 24255 -1
NTIC 4 7297 0

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $14 million. That figure was just $4 million in JMI’s case. Perceptron, Inc. (NASDAQ:PRCP) is the most popular stock in this table, while MeetMe Inc (NASDAQ:MEET) is the least popular one with only 4 bullish hedge fund positions. Javelin Mortgage Investment Corp (NYSE:JMI) 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 PRCP might be a better candidate to consider a long position.

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