First United
FUNC
44 hedge funds and large institutions have $52.4M invested in First United in 2019 Q2 according to their latest regulatory filings, with 7 funds opening new positions, 14 increasing their positions, 15 reducing their positions, and 11 closing their positions.
10% more capital invested
Capital invested by funds: $47.4M → $52.4M (+$4.93M)
7% less repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 15
1.28% less ownership
Funds ownership: 38.75% → 37.46% (-1.3%)
10% less funds holding
Funds holding: 49 → 44 (-5)
36% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 11
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CCM
Castine Capital Management
Boston,
Massachusetts
|
+$3.23M |
| 2 |
EC
EJF Capital
Arlington,
Virginia
|
+$2.94M |
| 3 |
PP
Paloma Partners
Greenwich,
Connecticut
|
+$613K |
| 4 |
Renaissance Technologies
New York
|
+$463K |
| 5 |
BCM
Basswood Capital Management
New York
|
+$440K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
-$5.54M |
| 2 |
State Street
Boston,
Massachusetts
|
-$1.74M |
| 3 |
Geode Capital Management
Boston,
Massachusetts
|
-$484K |
| 4 |
WSL
Western Standard LLC
Los Angeles,
California
|
-$416K |
| 5 |
Janney Montgomery Scott
Philadelphia,
Pennsylvania
|
-$313K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
AIG
51
American International Group
New York
| – | -$75K | -4,359 | Closed |
|
|
AIP
52
Ameritas Investment Partners
Lincoln,
Nebraska
| – | -$10K | -582 | Closed |
|
|
MAM
53
Meeder Asset Management
Dublin,
Ohio
| – | -$3K | -186 | Closed |
|
54
Bank of Montreal
Toronto,
Ontario, Canada
| – | +$314 | +17 | New |
|
FUNC Hedge Fund Activity: Q2 2019 in Review
44 of the 4,604 institutional investors tracked by Wall St. Rank reported a position in First United (FUNC) for Q2 2019, worth a combined $52.4M — up 10% from $47.4M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of FUNC and 7 opened new positions — a net loss of 4 holders — while 15 trimmed existing stakes and 14 added.
The largest buyer was Castine Capital Management, opening a new position worth an estimated $3.23M. The largest seller was BlackRock, cutting an estimated $5.54M.
- 44 institutional investors held First United (FUNC) as of Q2 2019, down from 49 in Q1 2019.
- Funds reported $52.4M of First United stock for Q2 2019, up 10% quarter-over-quarter.
- 7 funds opened new First United positions in Q2 2019 and 11 closed out, a net change of -4 holders.
- The largest First United buyer in Q2 2019 was Castine Capital Management, an estimated $3.23M added.
- The largest First United seller in Q2 2019 was BlackRock, an estimated $5.54M sold.
Based on aggregated 13F filings for Q2 2019.