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What Hedge Funds Think About TriplePoint Venture Growth BDC Corp (TPVG)

With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Citadel Investment Group, managed by Ken Griffin, assembled the largest position in TriplePoint Venture Growth BDC Corp (NYSE:TPVG). Citadel Investment Group had $0.5 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also made a $0.1 million investment in the stock during the quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as TriplePoint Venture Growth BDC Corp (NYSE:TPVG) but similarly valued. We will take a look at TrovaGene Inc (NASDAQ:TROV), Tobira Therapeutics Inc (NASDAQ:TBRA), Nathan’s Famous, Inc. (NASDAQ:NATH), and CDI Corp. (NYSE:CDI). This group of stocks’ market caps match TPVG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TROV 6 24914 0
TBRA 6 14875 2
NATH 7 19263 0
CDI 9 6937 -1

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $16 million. That figure was $11 million in TPVG’s case. CDI Corp. (NYSE:CDI) is the most popular stock in this table and TrovaGene Inc (NASDAQ:TROV) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks TriplePoint Venture Growth BDC Corp (NYSE:TPVG) is even less popular than TROV. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

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