Published on 7 Jun 2021 on Insider Monkey via Yahoo Finance
Hedge Funds Are Selling Iconix Brand Group Inc (ICON)
While the market driven by short-term sentiment influenced by the accommodative interest rate environment in the US, virus news and stimulus spending, many smart money investors are starting to get cautious towards the current bull run since March, 2020 and hedging or reducing many of their long positions. Some fund managers are betting on Dow hitting 40,000 to generate strong returns. However, as we know, big investors usually buy stocks with strong fundamentals that can deliver gains both in bull and bear markets, which is why we believe we can profit from imitating them. In this article, we are going to take a look at the smart money sentiment surrounding Iconix Brand Group Inc (NASDAQ:ICON).
Is Iconix Brand Group Inc (NASDAQ:ICON) a buy, sell, or hold? The best stock pickers were taking a bearish view. The number of bullish hedge fund bets dropped by 1 lately. Iconix Brand Group Inc (NASDAQ:ICON) was in 4 hedge funds' portfolios at the end of the first quarter of 2021. The all time high for this statistic is 15. Our calculations also showed that ICON isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings).
According to most stock holders, hedge funds are seen as unimportant, old financial vehicles of the past. While there are over 8000 funds trading at present, We hone in on the masters of this group, about 850 funds. Most estimates calculate that this group of people have their hands on most of the hedge fund industry's total capital, and by observing their first-class equity investments, Insider Monkey has determined various investment strategies that have historically beaten the market. Insider Monkey's flagship short hedge fund strategy exceeded the S&P 500 short ETFs by around 20 percentage points a year since its inception in March 2017. Also, our monthly newsletter's portfolio of long stock picks returned 206.8% since March 2017 (through May 2021) and beat the S&P 500 Index by more than 115 percentage points. You can download a sample issue of this newsletter on our website .