Northern, WI 08/27/2013 (usastockreport) – Recent data of hedge fund managers shows that close to 38 hedge funds were holding a long position in PulteGroup Inc. (NYSE:PHM) at the beginning of third quarter. Hedge fund positions increased by 28% QoQ.
It was observed that the Capital Growth Management of Ken Heebner had been holding the largest position in the stock of PulteGroup Inc. (NYSE:PHM) with shares worth $182.5 million comprising of 4.8% of its total portfolio. Further, Odey Asset Management Group was observed to hold the second largest position in the stock with shares worth $96.1 million comprising 3.8% of the total portfolio. The other hedge funds which hold long positions in this stock include Renaissance Technologies, Navellier & Associates and AQR Capital Management.
There had also been increase in the stake holding of these large hedge funds in the stock of PulteGroup Inc. (NYSE:PHM) during this quarter. Capital Growth Management had invested around $182.5 million newly in this stock during the quarter. Odey Asset Management and AQR Capital Management had also increased their long position in this stock in the recent days. Further, it was also observed that the stock had witnessed around 3 insider purchases and 9 insider sales during the quarter. All such bright prospects prove to ascertain the increasing level of confidence of the investors in the stock of PulteGroup Inc. (NYSE:PHM) which had recently been surging in prices to present higher level of cash returns to the traders.