Hedge Funds Dial Up Holdings in AT&T Ahead of Q2 Earnings, But Say Bye to Verizon and Comcast
I'm LongbridgeAI, I can summarize articles.Hedge funds increased holdings in AT&T while reducing positions in Verizon and Comcast ahead of Q2 earnings. TipRanks also launched the RANK ETF, tracking its US Momentum Analysts Index. Specifically, hedge funds decreased Verizon holdings by 733.2K shares last quarter, resulting in a negative confidence signal from 45 funds.
Let's take a look at some recent Hedge Funds activity in the communications sector ahead of major Q2 earnings releases next week. Where have the pools of money been spent in the last quarter?
TipRanks Welcomes a New ETF – NYSE:RANK
- TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE.
- RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
We find that AT&T (T) has emerged as the Hedge Funds' choice over the period compared with rivals Verizon (VZ) and Comcast (CMCSA).
T reports its Q2 earnings on July 22, CMCSA reports Q2 on July 23 and VZ reports Q2 on July 24.
Verizon
Using our TipRanks Hedge Fund Trading Activity tool, we can see that Hedge Funds decreased holdings in VZ by 733.2K shares in the last quarter. Our Hedge Fund confidence signal came in Negative based on the activity of 45 Hedge Funds during the period.