As aggregate interest increased, some big names have been driving this bullishness. Neil Chriss’ Hutchin Hill Capital established the most outsized position in TriMas Corp (NASDAQ:TRS). Hutchin Hill Capital had $0.8 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $0.5 million investment in the stock during the quarter. The only other fund with a new position in the stock is Cliff Asness’ AQR Capital Management.
Let’s go over hedge fund activity in other stocks similar to TriMas Corp (NASDAQ:TRS). These stocks are Transocean Partners LLC (NYSE:RIGP), Insys Therapeutics Inc (NASDAQ:INSY), Fifth Street Finance Corp. (NASDAQ:FSC), and Southside Bancshares, Inc. (NASDAQ:SBSI). All of these stocks’ market caps are closest to TRS’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 12 investors holding long positions and the average amount invested in these stocks was $85 million. That figure was $73 million in TRS’s case. Insys Therapeutics Inc (NASDAQ:INSY) is the most popular stock in this table. On the other hand Southside Bancshares, Inc. (NASDAQ:SBSI) is the least popular one with only six bullish hedge fund positions. TriMas Corp (NASDAQ:TRS) 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 Insys Therapeutics Inc (NASDAQ:INSY) might be a better candidate to consider taking a long position in.