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Hedge fund interest in First Defiance Financial (NASDAQ:FDEF) shares was flat at the end of last quarter. This is usually a negative indicator. 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 Blue Nile Inc (NASDAQ:NILE), Franklin Financial Network Inc (NYSE:FSB), and Conyers Park Acquisition Corp. (NASDAQ:CPAA) to gather more data points.
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With all of this in mind, we’re going to take a gander at the fresh action regarding First Defiance Financial (NASDAQ:FDEF).
How are hedge funds trading First Defiance Financial (NASDAQ:FDEF)?
At Q3’s end, a total of 7 of the hedge funds tracked by Insider Monkey held long positions in this stock, unchanged from one quarter earlier. On the other hand, there were a total of 12 hedge funds with a bullish position in FDEF at the beginning of this year. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Renaissance Technologies, one of the largest hedge funds in the world, holds the number one position in First Defiance Financial (NASDAQ:FDEF). According to its latest 13F filing, the fund has an $11.9 million position in the stock. Coming in second is Cliff Asness of AQR Capital Management, with a $4 million position. Remaining hedge funds and institutional investors that hold long positions contain Israel Englander’s Millennium Management, John Overdeck and David Siegel’s Two Sigma Advisors and Gregg J. Powers’ Private Capital Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.