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Smart Money Taking Up More Stakes in Entegris Inc (ENTG)

Now, key hedge funds were leading the bulls’ herd. HighVista Strategies, managed by Andre F. Perold, established the largest position in Entegris Inc (NASDAQ:ENTG). HighVista Strategies had $3.9 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $1.5 million position during the quarter. The other funds with brand new ENTG positions are Mike Vranos’ Ellington, Matthew Tewksbury’s Stevens Capital Management, and Chao Ku’s Nine Chapters Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to Entegris Inc (NASDAQ:ENTG). These stocks are Black Hills Corp (NYSE:BKH), Alliance Holdings GP, L.P. (NASDAQ:AHGP), The Dolan Company (NYSE:DM), and Masonite International Corp (NYSE:DOOR). This group of stocks’ market valuations are closest to ENTG’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BKH 18 129397 3
AHGP 7 20968 1
DM 6 13093 1
DOOR 28 553480 1

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $179 million. That figure was $397 million in ENTG’s case. Masonite International Corp (NYSE:DOOR) is the most popular stock in this table. On the other hand The Dolan Company (NYSE:DM) is the least popular one with only 6 bullish hedge fund positions. Entegris Inc (NASDAQ:ENTG) 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 DOOR might be a better candidate to consider a long position in.

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