What Is Driving These Stocks’ Gains Today?

ArcelorMittal SA (ADR) (NYSE:MT) shares have also advanced by some 6% today. This bullish move is trying to offset the disastrous performance during 2015, which sent the stock 63% in the red year-to-date.

Among the funds we follow, 18 reported long positions in ArcelorMittal as of the end of September, down by four funds from a quarter earlier. David Costen Haley‘s HBK Investments is the largest shareholder of the company among the investors we follow, owning 6.55 million shares valued at $54.2 million; the fund upped its stake by 31% during the third quarter.

Last but not least is Dominion Diamond Corp (NYSE:DDC), whose shares have surged by more than 20% today after the announcement that the Canadian mining company has hired financial advisers to analyze a possible sale due to shareholder pressure. The company has been criticized by a group of shareholders, including Toronto-based hedge fund K2 & Associates Investment Management, which sent a letter criticizing the strategy and business management of the company.

Hedge funds have been more pessimistic about the stock recently, with 18 hedge funds long Dominion Diamond Corp (NYSE:DDC) at the end of the third quarter, down from the 22 funds at the end of June.

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