We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards GlaxoSmithKline plc (NYSE:GSK) and determine whether hedge funds skillfully traded this stock.
The last time Insider Monkey took a closer look at GSK was at the end of April when the shares were trading at $41. Sio Capital’s Michael Castor said the following about GSK at the time:
“Earlier in the