As industrywide interest jumped, key money managers were leading the bulls’ herd. Luxor Capital Group assembled the most outsized position in Voya Financial Inc (NYSE:VOYA). The fund reportedly had $60.7 million invested in the company at the end of the quarter. Jim Simons’ Renaissance Technologies also initiated a $16.8 million position during the quarter. The following funds were also among the new VOYA investors: John A. Levin’s Levin Capital Strategies, Neal Shah’s Valtura Capital Partners, and David Rodriguez-Fraile’s BlueMar Capital Management.
Let’s now take a look at hedge fund activity in other stocks similar to Voya Financial Inc (NYSE:VOYA). These stocks are Tegna Inc (NYSE:TGNA), Old Dominion Freight Line (NASDAQ:ODFL), Gaming and Leisure Properties Inc (NASDAQ:GLPI), and TAL Education Group (ADR) (NYSE:XRS). This group of stocks’ market caps resemble VOYA’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 24 hedge funds with bullish positions and the average amount invested in these stocks was $451 million. That figure was $1.16 billion in VOYA’s case. Gaming and Leisure Properties Inc (NASDAQ:GLPI) is the most popular stock in this table. On the other hand Old Dominion Freight Line (NASDAQ:ODFL) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks Voya Financial Inc (NYSE:VOYA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.