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Are Hedge Funds Buying INT, PBR, and YPF?

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Hedge fund statistics for INT

In this part, we’ll look at how hedge funds are positioning themselves in the strongest stocks in the refining and marketing sector and integrated energy sector this week. In Q1 2018, 20 hedge funds were “buyers” (they created a new position or added to their existing position) of World Fuel Services (INT) stock, while 17 hedge funds were “sellers” (they closed their entire position or reduced their existing position).

Although 28 13F-filing hedge funds held INT in their portfolio as of March 31, none had INT in their top ten holdings. In Q1 2018, 13F-filing hedge funds increased their aggregate INT holdings by 16.1% from ~4.8 million shares to ~5.5 million.

Hedge fund statistics for PBR and YPF

Unlike INT, Petrobras (PBR) and YPF (YPF) saw their stocks sold by hedge funds. In Q1 2018, hedge funds decreased their aggregate holdings in PBR and YPF by 10.0% and 11.1%, respectively.

Another integrated energy stock discussed in this series, BP Amoco (BP), was sold by hedge funds in Q1 2018. Hedge funds decreased their aggregate holdings in BP by 2.6%. Meanwhile, hedge funds increased their aggregate holdings in Royal Dutch Shell (RDS.A) by 17.9%.

Form 13F is a Securities and Exchange Commission mandate that needs to be submitted by hedge funds managing more than $100 million in assets. As these hedge funds have access to in-depth research and greater capital, their purchase of a stock suggests it might do well.

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