Top Investors Are Pouring Into CBOE Holdings, Inc (CBOE) in Droves

As industry-wide interest jumped, key hedge funds were breaking ground themselves. Millennium Management established the largest position in CBOE Holdings, Inc (NASDAQ:CBOE). Millennium Management had $53.7 million invested in the company at the end of the quarter. Carlson Capital also made a $41.8 million investment in the stock during the quarter. The following funds were also among the new CBOE investors: Carl Tiedemann and Michael Tiedemann’s TIG Advisors, Isaac Corre’s Governors Lane, and Michael Kaine’s Numina Capital.

Let’s also examine hedge fund activity in other stocks similar to CBOE Holdings, Inc (NASDAQ:CBOE). We will take a look at Fortinet Inc (NASDAQ:FTNT), athenahealth, Inc (NASDAQ:ATHN), Pinnacle Foods Inc (NYSE:PF), and Carter’s, Inc. (NYSE:CRI). This group of stocks’ market caps are similar to CBOE’s market cap.

As you can see these stocks had an average of 29 hedge funds with bullish positions and the average amount invested in these stocks was $771 million. That figure was $590 million in CBOE’s case. Pinnacle Foods Inc (NYSE:PF) is the most popular stock in this table. On the other hand athenahealth, Inc (NASDAQ:ATHN) is the least popular one with only 15 bullish hedge fund positions. CBOE Holdings, Inc (NASDAQ:CBOE) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PF might be a better candidate to consider a long position in. However, CBOE is a stock to watch, given the surge in hedge fund ownership last quarter.

Disclosure: None