Between June 25 and October 30th the Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 14 percentage points as investors worried over the possible ramifications of rising interest rates. The hedge funds and institutional investors we track typically invest more in smaller-cap stocks than an average investor, and we have seen data that shows those funds paring back their overall exposure. Those funds cutting positions in small-caps is one reason why volatility has increased. In the following paragraphs, we take a closer look at what hedge funds and prominent investors think of Tangoe Inc (NASDAQ:TNGO) and see how the stock is affected by the recent hedge fund activity.
Is Tangoe Inc (NASDAQ:TNGO) a great investment today? The smart money is becoming hopeful. The number of bullish hedge fund positions inched up by 2 recently. TNGO was in 12 hedge funds’ portfolios at the end of the third quarter of 2015. There were 10 hedge funds in our database with TNGO positions at the end of the previous quarter. 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 SurModics, Inc. (NASDAQ:SRDX), Fortuna Silver Mines Inc. (NYSE:FSM), and EndoChoice Holdings Inc (NYSE:GI) to gather more data points.
Today there are numerous formulas shareholders employ to value stocks. Some of the less known formulas are hedge fund and insider trading signals. Our experts have shown that, historically, those who follow the best picks of the top hedge fund managers can outpace the market by a solid margin (see the details here).
Keeping this in mind, we’re going to take a gander at the recent action surrounding Tangoe Inc (NASDAQ:TNGO).
How are hedge funds trading Tangoe Inc (NASDAQ:TNGO)?
Of the funds tracked by Insider Monkey, George McCabe’s Portolan Capital Management has the number one position in Tangoe Inc (NASDAQ:TNGO), worth close to $6 million, comprising 0.8% of its total 13F portfolio. Sitting at the No. 2 spot is Selz Capital, managed by Bernard Selz, which holds a $3.2 million position; 0.9% of its 13F portfolio is allocated to the stock. Other peers that hold long positions consist of Jeffrey Jacobowitz’s Simcoe Capital Management, Chuck Royce’s Royce & Associates and Jim Simons’ Renaissance Technologies.