Hedge Funds Are Crazy About Silver Wheaton Corp. (USA) (SLW)

Silver Wheaton Corp. (USA) (NYSE:SLW) was in 17 hedge funds’ portfolio at the end of March. SLW investors should be aware of an increase in hedge fund interest recently. There were 16 hedge funds in our database with SLW positions at the end of the previous quarter.

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Now, it’s important to take a peek at the latest action encompassing Silver Wheaton Corp. (USA) (NYSE:SLW).

What have hedge funds been doing with Silver Wheaton Corp. (USA) (NYSE:SLW)?

Heading into Q2, a total of 17 of the hedge funds we track were bullish in this stock, a change of 6% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes considerably.

Of the funds we track, Jeffrey Vinik’s Vinik Asset Management had the most valuable position in Silver Wheaton Corp. (USA) (NYSE:SLW), worth close to $50.5 million, accounting for 1.4% of its total 13F portfolio. The second largest stake is held by Renaissance Technologies, managed by Jim Simons, which held a $29.1 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedge funds that are bullish include Eric Sprott’s Sprott Asset Management, and Matthew Hulsizer’s PEAK6 Capital Management.

Consequently, key money managers have jumped into Silver Wheaton Corp. (USA) (NYSE:SLW) headfirst. Ionic Capital Management, managed by Bart Baum, established the biggest call position in Silver Wheaton Corp. (USA) (NYSE:SLW). Ionic Capital Management had 1.5 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $0.5 million investment in the stock during the quarter. The only other fund with a brand new SLW position is John Overdeck and David Siegel’s Two Sigma Advisors.

Insider trading activity in Silver Wheaton Corp. (USA) (NYSE:SLW)

Insider purchases made by high-level executives is particularly usable when the primary stock in question has experienced transactions within the past six months. Over the latest 180-day time period, Silver Wheaton Corp. (USA) (NYSE:SLW) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Silver Wheaton Corp. (USA) (NYSE:SLW). These stocks are Silver Standard Resources Inc. (USA) (NASDAQ:SSRI), Hecla Mining Company (NYSE:HL), First Majestic Silver Corp (NYSE:AG), Coeur d’Alene Mines Corporation (NYSE:CDE), and Pan American Silver Corp. (USA) (NASDAQ:PAAS). This group of stocks belong to the silver industry and their market caps resemble SLW’s market cap.