5 Cash-Rich Penny Stocks Hedge Funds Are Buying

1. UWM Holdings Corporation (NYSE:UWMC)

Operating Cashflow (TTM): 4.61B

Number of Hedge Fund Holders: 17

UWM Holdings is a Michigan-based mortgage lending company. The stock has gained about 2% over the past six months. The stock is one of the most attractive cheap dividend plays in the market. Its dividend yield stands at 10% as of January 12. In November, UWM Holdings Corporation (NYSE:UWMC) declared a $0.10/share quarterly dividend, in line with previous.

Last month, UWM Holdings agreed to buy a majority stake in NBA’s Phoenix Suns and the WNBA’s Phoenix Mercury.

As of the end of the third quarter, 17 hedge funds tracked by Insider Monkey reported having stakes in UWM Holdings Corporation (NYSE:UWMC), compared to 15 funds in the previous quarter. The total value of the hedge funds stakes in UWM Holdings is $13.4 million.

You can also take a peek at Top Stocks in Each Sector and Dow 30 Stocks List 2022.