Is Pan American Silver Corp. (USA) (NASDAQ:PAAS) the right investment to pursue these days? Hedge funds are becoming less confident. The number of bullish hedge fund positions were trimmed by 3 lately.
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Consequently, let’s take a peek at the latest action regarding Pan American Silver Corp. (USA) (NASDAQ:PAAS).
What have hedge funds been doing with Pan American Silver Corp. (USA) (NASDAQ:PAAS)?
In preparation for this year, a total of 15 of the hedge funds we track were bullish in this stock, a change of -17% from the previous quarter. With hedge funds’ capital changing hands, there exists a select group of key hedge fund managers who were boosting their holdings significantly.
When looking at the hedgies we track, Chuck Royce’s Royce & Associates had the largest position in Pan American Silver Corp. (USA) (NASDAQ:PAAS), worth close to $209 million, accounting for 0.7% of its total 13F portfolio. Sitting at the No. 2 spot is David Dreman of Dreman Value Management, with a $26 million position; the fund has 0.8% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include Eric Sprott’s Sprott Asset Management, Trey Reik’s Bristol Investment Partners and Jim Simons’s Renaissance Technologies.
Since Pan American Silver Corp. (USA) (NASDAQ:PAAS) has experienced a declination in interest from the smart money, it’s easy to see that there exists a select few hedge funds who sold off their full holdings last quarter. Interestingly, Mark Travis’s Intrepid Capital Management dropped the biggest stake of the “upper crust” of funds we watch, worth an estimated $26 million in stock., and Peter J. Eichler Jr. of Aletheia Research and Management was right behind this move, as the fund dumped about $26 million worth. These moves are important to note, as total hedge fund interest was cut by 3 funds last quarter.
What have insiders been doing with Pan American Silver Corp. (USA) (NASDAQ:PAAS)?
Insider buying is at its handiest when the company in question has experienced transactions within the past six months. Over the last six-month time period, Pan American Silver Corp. (USA) (NASDAQ:PAAS) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
With the returns exhibited by our research, retail investors must always pay attention to hedge fund and insider trading activity, and Pan American Silver Corp. (USA) (NASDAQ:PAAS) applies perfectly to this mantra.
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