The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing more than 730 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of June 28th, 2019. What do these smart investors think about IDACORP Inc (NYSE:IDA)?

IDACORP Inc (NYSE:IDA) was in 22 hedge funds' portfolios at the end of the second quarter of 2019. IDA shareholders have witnessed an increase in hedge fund interest of late. There were 18 hedge funds in our database with IDA positions at the end of the previous quarter. Our calculations also showed that IDA isn't among the 30 most popular stocks among hedge funds.

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Unlike some fund managers who are betting on Dow reaching 40000 in a year, our long-short investment strategy doesn't rely on bull markets to deliver double digit returns. We only rely on hedge fund buy/sell signals. Let's take a glance at the new hedge fund action encompassing IDACORP Inc (NYSE:IDA).

What have hedge funds been doing with IDACORP Inc (NYSE:IDA)?

Heading into the third quarter of 2019, a total of 22 of the hedge funds tracked by Insider Monkey were long this stock, a change of 22% from the first quarter of 2019. Below, you can check out the change in hedge fund sentiment towards IDA over the last 16 quarters. So, let's see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

The largest stake in IDACORP Inc (NYSE:IDA) was held by Renaissance Technologies, which reported holding $114.8 million worth of stock at the end of March. It was followed by Millennium Management with a $41.7 million position. Other investors bullish on the company included GLG Partners, AQR Capital Management, and Fisher Asset Management.

As aggregate interest increased, key money managers were breaking ground themselves. Shelter Harbor Advisors, managed by Peter J. Hark, initiated the largest position in IDACORP Inc (NYSE:IDA). Shelter Harbor Advisors had $2.5 million invested in the company at the end of the quarter. Ben Levine, Andrew Manuel and Stefan Renold's LMR Partners also made a $1.6 million investment in the stock during the quarter. The other funds with brand new IDA positions are Michael Gelband's ExodusPoint Capital, Matthew Tewksbury's Stevens Capital Management, and Gavin Saitowitz and Cisco J. del Valle's Springbok Capital.