Investors all around the world are really concerned about where to invest, because of the limitations they are facing due to the pandemic. When 2020 started, it was predicted by experts that the stocks are likely to go down by at least 20% because of the COVID situation.
COVID-19 can easily be contracted by contacting physically with the affected person, which is why an international travel ban was suggested to stop the number of cases from growing. Like every other industry, the financial market is also very severely hit by it.
People who focused on decreasing the market ETFs and bought long-term bonds have profited now.
The question for which investors are seeking an answer to is if investing with Transocean Ltd ( NYSE: RIG) is a good idea or not.
In 2019, Transocean Ltd (RIG) was in the portfolios of 26 hedge funds. However, if we observe its last quarter’s performance, we can easily identify that the hedge fund interest was nothing but flat, which is not a positive indicator.
At present, RIG is not even under the top 30 popular stocks of hedge fund managers.
To understand what hedge funds think about RIG, it is not that difficult to decode. Their perception towards the stocks are not really favorable.
When it comes to Transocean Ltd (RIG), a notable change of -33% has been observed since last year. At the end of 2019, 26 to 33 hedge funds experienced a bullish position in RIG. Also, there were a few managers who were found boosting their stakes quite significantly.
In connection with the portfolio, Avenue Capital shared out the biggest weight to RIG, about 17.55% of the 13F portfolio. Moreover, Contrarius Investment Management held RIG stocks worth of 179.7 million dollars in the third quarter.
The fact is that Transocean Ltd (RIG), from the aggregate hedge fund industry, has held bearish sentiment but there are still some managers who boosted their stakes in the third quarter and scored full holdings.