What Does Smart Money Sentiment Have to Say about This Surging Commodities Stock?

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Hedge funds from our database increased their positions in Teck Resources in the second quarter. Of the around 730 elite funds we track, 15 funds owned $97.69 million worth of the company’s shares (representing 1.70% of the float) at the end of June, versus 12 funds and $35.33 million on March 31. Jonathan Barrett And Paul Segal’s Liminus Management established a new position of 4.75 million shares, while Ray Dalio‘s Bridgewater Associates trimmed its stake by 6% to 262,400 shares.

Similar to Teck, smart money is cautious towards Franco-Nevada, from what it looks like. A total of 16 funds held stakes worth $227.1 million on June 30, and while the number of funds remained flat, the total value of their holdings slightly grew from $202.24 million on March 31. First Eagle Investment Management increased its holding by 70.5% to 1.71 million shares.

Disclosure: None

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