Micron Technology, Inc. (MU), Level 3 Communications, Inc. (LVLT): Here’s What This Annual 20% Gainer Has Been Buying

Caxton Associates reduced its stake in lots of companies, including Georgia-based Synovus Financial Corp. (NYSE:SNV). Synovus Financial Corp. (NYSE:SNV) has been posting strong return-on-equity (ROE) numbers. In May, it acquired $54 million in deposits from the failed Sunrise Bank. Bears worry about the bank’s significant residential real estate business and the current low interest rate environment. It has also been working to pay off its TARP obligations.

Finally, Caxton Associates’ biggest closed positions included Sprint Nextel and JPMorgan Chase & Co. (NYSE:JPM). Other closed positions of interest include India-based ICICI Bank Limited (ADR) (NYSE:IBN). In April, the bank reported double-digit profit increases and rising ROE. Analysts at Zacks downgraded the bank earlier this month, though, citing deterioration of its credit quality and expected steep operating expenses.

We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. 13-F forms can be great places to find intriguing candidates for our portfolios.

The article Here’s What This Annual 20% Gainer Has Been Buying originally appeared on Fool.com and is written by Selena Maranjian.

Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter, owns shares of JPMorgan Chase, as does The Motley Fool.

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