General Electric Company (GE) Wins South Korea Fighter Jet Project That Could Be Worth $3.5 Billion

As industrywide interest jumped, specific money managers have jumped into General Electric Company (NYSE:GE) headfirst. Overland Advisors, managed by Gordy Holterman and Derek Dunn, initiated the largest call position in General Electric Company (NYSE:GE). Overland Advisors had $25.4 million invested in the company at the end of the quarter. Eric Sprott’s Sprott Asset Management also initiated a $13.2 million position during the quarter. The following funds were also among the new GE investors: Ken Griffin’s Citadel Investment Group, Jonathan Barrett and Paul Segal’s Luminus Management, and Charles Davidson’s Wexford Capital.

Let’s go over hedge fund activity in other stocks similar to General Electric Company (NYSE:GE). These stocks are Amazon.com, Inc. (NASDAQ:AMZN), Wells Fargo & Co (NYSE:WFC), AT&T Inc. (NYSE:T), and China Mobile Ltd. (ADR) (NYSE:CHL). All of these stocks’ market caps are similar to GE’s market cap.

As you can see these stocks had an average of 75 hedge funds with bullish positions and the average amount invested in these stocks was $12.02 billion. That figure was $5.48 billion in GE’s case. Amazon.com, Inc. (NASDAQ:AMZN) is the most popular stock in this table. On the other hand China Mobile Ltd. (ADR) (NYSE:CHL) is the least popular one with only 25 bullish hedge fund positions. General Electric Company (NYSE:GE) 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 AMZN might be a better candidate to consider a long position.

Disclosure: None