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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.

New
Increased
Maintained
Reduced
Closed

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

Holders
44
Holders Change
-5
Holders Change %
-10.2%
% of All Funds
0.96%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.02%
New
7
Increased
14
Reduced
15
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CCM
Castine Capital Management
Massachusetts
+$3.23M
2
EC
EJF Capital
Virginia
+$2.94M
3
PP
Paloma Partners
Connecticut
+$613K
4
Renaissance Technologies
Renaissance Technologies
New York
+$463K
5
BCM
Basswood Capital Management
New York
+$440K

Top Sellers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
-$5.54M
2
State Street
State Street
Massachusetts
-$1.74M
3
Geode Capital Management
Geode Capital Management
Massachusetts
-$484K
4
WSL
Western Standard LLC
California
-$416K
5
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
-$313K
Name Holding Trade Value Shares
Change 		Change in
Stake
EC
1
EJF Capital
Virginia
$8.73M +$2.94M +158,972 +56%
GJL
2
Gendell Jeffrey L
$8.59M +$122K +6,613 +2%
Dimensional Fund Advisors
3
Dimensional Fund Advisors
Texas
$6.22M -$9.34K -506 -0.2%
Vanguard Group
4
Vanguard Group
Pennsylvania
$5.2M -$295K -15,951 -6%
MI
5
M3F Inc
Utah
$4.9M +$259K +14,017 +6%
CCM
6
Castine Capital Management
Massachusetts
$3.44M +$3.23M +174,685 New
Northern Trust
7
Northern Trust
Illinois
$2.48M -$59K -3,195 -2%
MCM
8
Maltese Capital Management
New York
$1.71M – – –
PH
9
Pinnacle Holdings
Oklahoma
$1.42M -$56K -3,035 -4%
BCM
10
Bridgeway Capital Management
Texas
$1.23M +$42.5K +2,300 +4%
Renaissance Technologies
11
Renaissance Technologies
New York
$850K +$463K +25,061 +139%
Deutsche Bank
12
Deutsche Bank
Germany
$823K +$363K +19,667 +89%
BlackRock
13
BlackRock
New York
$818K -$5.54M -300,199 -88%
Morgan Stanley
14
Morgan Stanley
New York
$764K +$248K +13,447 +53%
Geode Capital Management
15
Geode Capital Management
Massachusetts
$726K -$484K -26,219 -42%
California Public Employees Retirement System
16
California Public Employees Retirement System
California
$701K – – –
PP
17
Paloma Partners
Connecticut
$655K +$613K +33,212 New
Goldman Sachs
18
Goldman Sachs
New York
$498K +$103K +5,560 +28%
BCM
19
Basswood Capital Management
New York
$470K +$440K +23,854 New
Wells Fargo
20
Wells Fargo
California
$297K -$44.7K -2,423 -14%
Bank of America
21
Bank of America
North Carolina
$283K +$1.48K +80 +0.6%
First Trust Advisors
22
First Trust Advisors
Illinois
$253K -$1.42K -77 -0.6%
Millennium Management
23
Millennium Management
New York
$247K +$231K +12,517 New
Bank of New York Mellon
24
Bank of New York Mellon
New York
$204K -$312K -16,876 -62%
SWM
25
SeaCrest Wealth Management
New York
$204K – – –
1
2 3

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.