What Smart Money Thinks about First Potomac Realty Trust (FPO)?

Because First Potomac Realty Trust (NYSE:FPO) has sustained a decline in interest from hedge fund managers, it’s easy to see that there is a sect of hedge funds that elected to cut their full holdings last quarter. It’s worth mentioning that Andrew Axelrod’s Axar Capital dropped the largest investment of the 700 funds followed by Insider Monkey, comprising about $4.7 million in stock, and Jonathan Litt’s Land & Buildings Investment Management was right behind this move, as the fund cut about $4.2 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as First Potomac Realty Trust (NYSE:FPO) but similarly valued. We will take a look at Xenith Bankshares Inc (NASDAQ:XBKS), RPX Corp (NASDAQ:RPXC), Unifi, Inc. (NYSE:UFI), and AtriCure Inc. (NASDAQ:ATRC). All of these stocks’ market caps match FPO’s market cap.

As you can see these stocks had an average of 12 funds with bullish positions and the average amount invested in these stocks was $82 million. That figure was just $19 million in FPO’s case. AtriCure Inc. (NASDAQ:ATRC) is the most popular stock in this table. On the other hand Xenith Bankshares Inc (NASDAQ:XBKS) is the least popular one with only six bullish hedge fund positions. First Potomac Realty Trust (NYSE:FPO) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ATRC might be a better candidate to consider taking a long position in.

Disclosure: None