Goldman Sachs Group Inc. (NYSE:GS) shares are trading low

by Tom Kelly | Tuesday, Aug 27, 2013 | 758 views

Northern, WI 08/27/2013 (usastockreport) – There had recently been lesser level of activity from the hedge fund managers on the stock of Goldman Sachs Group Inc. (NYSE:GS). It is worth noting that there were totally 57 hedge funds which were holding long position in this stock by the end of second quarter, which was lower by 5% compared to the first quarter. However, there had been few hedge funds in the upper tier which were making remarkable new investments in this stock recently. It was observed that Eagle Capital Management of Boykin Curry had proved to have the largest holding in this stock with shares worth $401.8 million to comprise around 2.2% of its total portfolio.

Next to it was Harris Associates, which was observed to hold $321.4 million worth shares of Goldman Sachs Group Inc. (NYSE:GS) to occupy around 0.7% of its total portfolio. The other major hedge funds which had been holding long positions in this stock include AQR Capital Management, Pzena Investment Management and Orbis Investment Management. It thereby appears that the company had recently faced a severe fall in interest from these smart money managers and there were also few funds which were selling off their positions in this stock. This includes Viking Global which had sold off shares worth $90 million from its total portfolio and Lansdowne Partners which had sold off shares worth $38.1 million from its total portfolio.

It is worth noting that the total interest of hedge funds in the stock of Goldman Sachs Group Inc. (NYSE:GS) had been cut down by 3 numbers in the second quarter and it is essential that the investors take cues of these bearish trends in hedge fund investments in this stock before making any long term decisions on their investment positions in Goldman Sachs.

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