MetroPCS Communications Inc (NYSE:PCS) investors should be aware of a decrease in hedge fund interest in recent months.
In today’s marketplace, there are plenty of gauges market participants can use to track the equity markets. A duo of the best are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite fund managers can outclass the market by a solid amount (see just how much).
Equally as integral, positive insider trading sentiment is a second way to parse down the investments you’re interested in. Just as you’d expect, there are plenty of incentives for a bullish insider to cut shares of his or her company, but only one, very simple reason why they would behave bullishly. Various academic studies have demonstrated the useful potential of this tactic if shareholders know what to do (learn more here). Keeping this in mind, let’s take a peek at the key action surrounding MetroPCS Communications Inc (NYSE:PCS).
Heading into Q2, a total of 46 of the hedge funds we track were bullish in this stock, a change of 0% from the previous quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of key hedge fund managers who were increasing their stakes considerably.