Institutional Investors Show Strong Interest in Transocean (RIG)

2024-03-12

Transocean (RIG) garnered significant attention from both hedge funds and ETFs in the recent quarter. A total of 428 hedge funds held 611,633,886 RIG shares, indicating a strong interest from institutional investors. Furthermore, 9 ETFs were found to be holding 4,991,664 RIG shares, underscoring the value that even passive investors see in the company.

Among the top institutional holders, Vanguard Group Inc., Primecap Management Co/CA, and Capital World Investors possessed substantial amounts of RIG shares. Vanguard Group Inc. led the pack with 68,552,192 shares in its portfolio.

During the last quarter, there was notable trading activity of RIG shares by hedge funds. Specifically, 149 hedge funds bought a total of 82,745,382 RIG shares, while 151 hedge funds sold 51,312,258 shares. This active trading reflects differing opinions among investors regarding the future outlook of Transocean.

An intriguing observation was that 35 hedge funds doubled their positions on RIG in the last quarter, signaling a high level of confidence in the company's potential. Conversely, 7 hedge funds divested at least 90% of their RIG shares, indicating a bearish sentiment among some investors.

The data provided by sharkstracker.com offers a data-driven perspective of the market, empowering investors to make well-informed decisions based on the activities of hedge funds and ETFs. For a more comprehensive analysis, the full version of the article can be accessed at https://www.sharkstracker.com/reports/ReportDetail12:RIG/?rrr=3.