Why Are Hedge Funds In Love With Eli Lilly (LLY)?

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In terms of individual hedge fund activity, 49 funds that we track owned $2.87 billion in Eli Lilly and Co (NYSE:LLY) positions on June 30, which accounted for 3.30% of the float. Those figures were down from 57 funds with $3 billion in holdings on March 31.

In terms of individual hedge fund activity, Andreas Halvorsen‘s Viking Global cut its Eli Lilly stake by 21% during the second quarter, to 9.38 million shares, good for 3.13% of its portfolio’s value. Likewise, Jim Simons‘ Renaissance Technologies and Phill Gross and Robert Atchinson‘s Adage Capital Management trimmed their positions by 2% and 10% respectively, to 2.19 million shares and 1.65 million shares as of June 30.

Disclosure: None

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