New York (HedgeCo.net) – Each quarter when the 13F filings are released, many news sources focus on the stocks that hedge funds are buying, but less attention is paid to the stocks that are being sold by funds. A recent article from theStreet.com highlighted four stocks in particular that saw heavy selling during the third quarter.
The article looked at both the number of shares sold as well as the dollar value of the shares sold. The number one stock on the list was Apple (Nasdaq: AAPL) which saw 127 million shares sold and that is the equivalent of $15 billion.
The other four stocks on the list in no particular order were:
- Baidu (Nasdaq: BIDU) 9.25 million shares sold, approximately $1.9 billion
- Biogen (Nasdaq: BIIB) 11.15 million shares sold, approximately $3.2 billion
- Capital One Financial (NYSE: COF) 13.82 million shares sold, approximately $1.02 billion
- Wells Fargo (NYSE: WFC) 10.6 million shares sold, approximately $573 million
While these weren’t necessarily the most sold stocks, they were listed as five notable stocks that saw heavy selling. It should also be pointed out the dollar values are based on the prices now rather than throughout the third quarter.
Rick Pendergraft
Research Analyst
HedgeCoVest
