Published on 27 Oct 2021 on Insider Monkey via Yahoo Finance

Hedge Funds Are Dumping WEX Inc (WEX)

At Insider Monkey, we pore over the filings of nearly 873 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of June 30th. In this article, we will use that wealth of knowledge to determine whether or not WEX Inc (NYSE:WEX) makes for a good investment right now.

WEX Inc (NYSE:WEX) has seen a decrease in enthusiasm from smart money in recent months. WEX Inc (NYSE:WEX) was in 20 hedge funds' portfolios at the end of June. The all time high for this statistic is 35. There were 26 hedge funds in our database with WEX positions at the end of the first quarter. Our calculations also showed that WEX isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Hedge funds have more than $3.5 trillion in assets under management, so you can't expect their entire portfolios to beat the market by large margins. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 79 percentage points since March 2017 (see the details here). So you can still find a lot of gems by following hedge funds' moves today.